At $2.08 Trillion, Apple Is Bigger Than These Things

In August 2018, Apple Inc. (AAPL) became the world's first company to record a market capitalization of $1 trillion and roughly two years later, became the first publicly traded U.S. company to surpass $2 trillion. As of March 15, 2021, Apple's market cap increased to $2.08 trillion. To put that staggering $2 trillion figure in context, we present five other huge things that the giant technology company is bigger than or comparable to in terms of value.

1. Economies of Entire Countries

Global GDP was $87.799 trillion in 2019, per the latest data from the World Bank, and Apple's market cap is 2.36% of that figure. Compared to the U.S., the world's largest economy with a GDP of $21.43 trillion in 2019, Apple's market cap represents 9.7%.

Only 7 countries have annual GDP figures greater than Apple's market cap. The nations with GDP figures immediately below $2.08 trillion are Italy, Brazil, and Canada.

Moreover, the World Bank compiles GDP data for 263 countries, regions, or collections of countries with similar characteristics. Of these, 216, or 97.3%, generate less than $2.08 trillion in annual GDP.

2. The Market Value of Some Stock Exchanges

The total market capitalization of all shares traded on the top U.S. stock exchanges was $45.57 trillion as of March 15, 2021. Apple represents 4.56% of that total.

Of the top 72 exchanges in the world, only 11 have market caps greater than Apple. Those exchanges immediately behind Apple are the Frankfurt Stock Exchange, South Korea Stock Exchange, Stockholm Stock Exchange, and Swiss Stock Exchange.

3. U.S. Budget Deficit

The U.S. government’s expenses far exceed its revenue generation, leading to a burgeoning budget deficit which has been a subject of hot political debates. The Congressional Budget Office (CBO) reports that the federal budget deficit for the fiscal year 2020, which ended on Sept. 30, was $3.1 trillion, more than three times the deficit recorded for 2019.

As massive as the federal deficit appears, it is only slightly larger than Apple's market cap. However, Apple's value pales in comparison to the nation's total federal debt of $26.945 trillion.

4. Cost of WWI, the Vietnam War, and the Iraq War

While wars cause the destruction of life that cannot be measured, a 2010 Congressional Research Service report estimated the economic cost of each U.S. war between 1775 and 2010, adjusting the figures to reflect constant dollar prices as of the fiscal year 2011. Based on data from that report, Apple’s market cap exceeds the inflation-adjusted costs to the U.S. of World War I, the Vietnam War, and the Iraq War, among others. The only exception is World War II, with an estimated cost of $4.1 trillion in 2011 dollars.

5. The Combined Net Worth of the World's 18 Richest People

Jeff Bezos is the world’s richest man according to Forbes magazine, which estimated his net worth to be $182.2 billion as of March 15, 2021. The combined wealth of the top 10 on the Forbes list, including other well-known names such as Bill Gates and Warren Buffett, is estimated at $1.19 trillion, which is below Apple's market value. To equal Apple's market cap, one must combine the net worth of the world's top 24 billionaires.

Apple Net Worth FAQs

What is Apple's Current Net Worth?

A company's net worth is calculated as its assets minus liabilities. Its market capitalization, or market value, is calculated as the total number of outstanding shares of stock multiplied by its market price. Apple's net worth at the end of the fiscal year 2020 was $65.34 billion. Its market capitalization, however, is $2.08 trillion as of March 15, 2021.

Which Company Is Richer, Microsoft or Apple?

Microsoft has an impressive market cap; however, it is not as large as Apple's. As of March 15, 2021, Microsoft's market cap was $1.8 trillion, which is approximately 87% of Apple's.

Is Apple Worth a Trillion Dollars?

In 2018, Apple broke the record to become the first company to record a $1 trillion market capitalization. In 2020, it surpassed another milestone, becoming the first company to record a market value of $2 trillion. Its net worth as of 2020 was an impressive $65 billion.

Is Apple Bigger Than Amazon?

E-commerce and tech giant Amazon joined the $1 trillion club in September 2018, one month after Apple. However, it has yet to reach Apple's $2 trillion market cap milestone. Amazon reported a 2020 net worth of $43.55 billion, trailing behind Apple's $65 billion. Although Amazon posts great marks, it is not bigger than Apple.

Is Tim Cook a Billionaire?

Apple's CEO Tim Cook is estimated to have a net worth of $1 billion. He earns approximately $15 million per year in salary and bonuses.

The Bottom Line

Apple continues to break records with its performance, shattering the market cap ceiling in 2018 at $1 trillion and again in 2020, doubling to $2 trillion. Apple's market value exceeds the combined net worth of most of the world's billionaires, entire nations' economies, and the market value of most exchanges. One can imagine what record it will break next. Despite where it's headed, it maintains its position at the top.