Apple became the first publicly traded U.S. company to surpass a $2 trillion market capitalization in 2020, solidifying its position as a global economic powerhouse. But just how massive is Apple compared to other companies, countries, and even historical events? This article explores Apple’s colossal size in a global context.
Apple’s Market Cap Dwarfs Most Countries’ GDPs
In 2019, the global GDP was approximately $87.8 trillion. Apple’s $2 trillion market cap at the time represented a significant 2.36% of this figure. Compared to the US GDP of $21.43 trillion, Apple accounted for a substantial 9.7%. Astonishingly, Apple’s market capitalization exceeded the GDP of all but seven countries worldwide. To put this in perspective, economies like Italy, Brazil, and Canada fell short of Apple’s valuation. In fact, a staggering 97.3% of the 263 countries and regions tracked by the World Bank had a GDP lower than Apple’s market cap.
Apple’s market cap compared to global GDP.
Outpacing Major Stock Exchanges
The combined market capitalization of all stocks traded on major U.S. exchanges totaled around $45.57 trillion. Apple alone represented 4.56% of this enormous sum. Globally, out of 72 major stock exchanges, only 11 boasted a market capitalization larger than Apple’s. Exchanges trailing just behind Apple included Frankfurt, South Korea, Stockholm, and Switzerland.
Apple’s market cap compared to major stock exchanges.
Exceeding Major Historical Costs
While the true cost of war is immeasurable in human life, a 2010 Congressional Research Service report estimated the inflation-adjusted cost of major U.S. wars. Remarkably, Apple’s market cap surpassed the cost of World War I, the Vietnam War, and the Iraq War combined. Only World War II, with an estimated cost of $4.1 trillion (in 2011 dollars), exceeded Apple’s valuation.
Surpassing the Combined Wealth of Billionaires
Even compared to the world’s wealthiest individuals, Apple’s size is staggering. In 2021, Jeff Bezos, then the world’s richest person, had a net worth of $182.2 billion. The combined wealth of the top 10 billionaires on the Forbes list fell short of Apple’s market value. To match Apple’s market cap, one would need to combine the net worth of the top 24 billionaires globally.
Apple’s market cap compared to the combined net worth of the world’s richest individuals.
Apple vs. Other Tech Giants: A Comparison
While other tech giants like Microsoft and Amazon have impressive market capitalizations, neither has reached the heights of Apple. In 2021, Microsoft’s market cap was approximately $1.8 trillion, significantly less than Apple’s. Amazon, while exceeding $1 trillion, still trailed behind Apple’s $2 trillion valuation.
Conclusion
Apple’s immense market capitalization underscores its dominance in the global economy. Its valuation surpasses not only most countries’ GDPs and major stock exchanges but also the combined wealth of numerous billionaires and the cost of major historical events. Apple’s continued growth and innovation solidify its position as a leader in the tech industry and a major force in the global financial landscape. While its future performance remains to be seen, Apple’s current scale is a testament to its remarkable success.
