Apple made $274.5 billion in revenue in the last fiscal year, which is an an increase of 5.5 percent, and further made a $57.4 billion in profit, a 3.9 percent increase.
However, as at the year 2020, the company fell from its 3rd place in revenue to fourth place, though in a recent research shows currently that Apple has returned to its third place, with Walmart holding first place and Amazon second place.
The pandemic created challenges and opportunities for some big company’s with Apple inclusive though in the case of Apple, it was much of a win and little bit of challenge leading to the shutdown of some of the company’s stores and the CEO Mr. Cook had to send home some of the company’s engineers.
However, having Apple customers worldwide working and learning from home, iPad and Macintosh computer sales went up to their highest levels ever as well as the fiscal-year revenue which hit an all-time record of $275 billion.
In line with the company’s stock price which gained about 80.7% that year. As that year phase down, major regulatory authorities focused their sights on Apple for potentially stepping out of line and exaggerating its power over the iOS app store.
As it boils down the House Judiciary antitrust subcommittee report in October seeded the company “exerts monopoly power” in its app store to harm competition and increase prices for consumers. The, testimony in an antitrust lawsuit filed by Fortnite developer Epic Games will likely increase pressure on legislators to limit Apple’s power.
Apple has now ranked in the top five for eight consecutive years. Other enlisted notable tech companies in this year’s chat includes Google holding in ninth place, Microsoft in 15th, and Facebook holding 34th spot.
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