Apple earns $1,670 every second
With a market value of $400 bln, Apple is now worth more than Venezuela’s annual economic output.
In the final quarter of 2011, when many world leaders were battling crisis in the euro zone to prevent another global recession, the cash counters at Apple Inc were adding $1,670 to its profits every second, according to published data.
With a market value of $400 billion, Apple is now worth more than Venezuela s annual economic output.
A company this big is neither expected to nearly double revenue year-on-year nor more than double its profit. But Apple did both.
In the latest quarter, Apple turned in a profit of $13.1 billion which equalled its revenue in Q4 2010 – underlining the scorching pace of its growth.
