It’s hard to truly understand Apple’s astronomical size until you put things into context. With $178 billion in cash as of last quarter, you can start easily comparing the company to the gross domestic product (GDP) of large countries.
In fact, Apple would be the world’s 55th richest country right now, according to the latest data from World Bank.
New Zealand barely keeps the 54th spot with $185,788 billion. And Apple would just barely dethrone Ukraine’s 55th spot at $177,431 billion GDP.
Apple has more in its war chest than the total value of goods and services produced by 141 countries in a given year. What Apple will do with all that money remains unclear, but Tim Cook (who does not believe in the law of large numbers) has made it clear that it’s not being hoarded. The $3 billion acquisition of Beats just last year was the largest buy in Apple’s history.
After making more money than any company in history last quarter, some analysts think Apple is on its way to becoming the first trillion dollar company in terms of market cap (currently at $711 billion).
Apple has yet to topple Microsoft’s record valuation in 1999 at $640 billion ($870 billion with inflation), but it’s well on its way. Microsoft is less than half of Apple’s size now as the second-largest U.S. company with $347.5 billion.
A company Apple is nowhere near touching? As The Atlantic notes, The Dutch East India Company was worth around $7 trillion during its height in the 1700s.
Guess we all need something to aspire to.
Source: World Bank
Via: The Atlantic
Alex Heath is a journalist who works for Tech Insider. He’s the former co-host of The CultCast. He has been quoted by the likes of the BBC, KRON 4 News, and books like “ICONIC: A Photographic Tribute to Apple Innovation.” He lives in Lexington, Kentucky. If you want to pitch a story, share a tip, or just get in touch, additional contact information is available on his personal site. Follow him on Twitter.
18 responses to “Apple’s massive cash hoard makes it richer than 141 countries”
If Apple were a country it would have to spend that money for the public good. Then how rich would it be.
You’re missing the point. Gotta luv the irony.
No, the author chose to compare Apple to a country. My point is Apple does not have the responsibilities of a country, e.g., maintaining a military, providing social services to people, maintaining a criminal justice system, ect. If Apple conducted its operation as a government its cash on hand would quickly dwindle.
I must be thick or something but aren’t those GDP numbers PER YEAR and the cash an accumulation over many years – ie accumulative total?
To say is almost as rich as New Zealand is nonsense.
Or perhaps I’m being brain dead (it’s 2am here :))
This is just shameful tbh
Why is producing great products and reaping the rewards shameful?
What will they do with all of this ? Wait until they hit a point of buying the planet ?
Exactly, they’re just hoarding it to themselves and I honestly rather have a good amount of that money spent for people in need than for minor advancements in computing technology every year. Lives come first (and no don’t give the excuse that Apple’s using it to help make advancements in technology for the sake of lives, they have too much money to use that one).
Red u like anime
Yeah…..why?
Just asking what’s your fav one
Thats’s an extremely tough question, but my favorite genres are a mix of action and romance
I would have to agree with you
New Zealand’s fiure is shown as $185.788 TRILLION. Apple is way down from that size!
Are you drunk or something?
Do you even realize what you’re talkin’ about?
U.S. GDP is 17.7 trillion, so what? New zealand is 10 times the U.S. GDP?
No. Check you numbers and come again. New Zealand GDP is 185.8 billion indeed.
Where do you get these article ideas? You can’t compare GDP to cash on hand. New Zealand has an annual production of $185 billion but it doesn’t have $185 billion in cash, you eejits. The US government doesn’t even have $185 billion in cash at certain points. $185 billion is New Zealand’s revenue in a single year, not its savings.
Secondly GDP size does not equal wealth. China has the second largest GDP in the world. China is a not a wealthy country. New Zealand, for example, is a much wealthier country than China. It isn’t 54th in the world. It’s more like 10th. You measure GDP per capita as a measure of wealth not GDP size. Ugh.
God dammit I hate this site. I give it a second chance every few months and I always come across a completely dumb story like this.