Apple’s stock price has continued to rise the last couple of weeks making it the most valuable company in the world, and debatably the most valuable company ever. Some might think that Apple can’t sustain those numbers over the long-term, but right now their prospects are looking great.
The scary thing – if you’re an Apple competitor – is that even though Apple is huge right now, it’s still growing. Fortune released their list of the 100 fastest-growing companies in the world today, and Apple came in at #8 while competitors like Google and Samsung didn’t even make the list.
Apple’s 3-year average for Revenue Growth is at 52%, while their Profit Growth is at 70%. Even though many investors were worried that Apple’s stock would start slipping now that Steve Jobs is gone, Apple has continued to post record-breaking quarters.
In August, the iPhone maker overtook Microsoft as the largest-ever U.S. company by stock-market value. The only negative spot so far this year came when the company fell short of Wall Street’s expectations with a rare earnings miss in the third quarter due to lower-than-expected iPhone sales. That said, the 26 million iPhones sold still represented a 22% increase over the same period in 2011 – not too shabby, considering the hotly anticipated release of the iPhone 5 may have delayed purchases by some holdouts. Sales of the iPad hit a record in the last quarter, up 84% year-on-year, but the iPhone remains the undisputed king of growth at Apple.
Apple will announce the launch of the iPhone 5 on September 12th, which will only fuel the company further as they penetrate the Chinese market even further, and possibly jump into the television set market next year with the introduction of a rumored iTV.
- Source Fortune