How Much Is Apple Worth?

"Hong Kong, China - October 20, 2011: People in the Apple Store at International Finance Center, Central Hong Kong, opened on the September 24, 2011.
Nikada /

Apple is one of the world’s largest companies — the seventh largest on the 2022 Fortune Global 500 list, in fact, and it is arguably the most well-known technology brand. In August 2020, Apple became the second company in the world to hit the $2 trillion value mark, behind Saudi Arabia’s Aramco. Apple briefly hit a $3 trillion market cap on Jan. 3, 2022 — making it the first public company ever to do so.

Released on Feb. 2, Apple’s first-quarter 2023 revenue and earnings results fell short of analysts’ expectations. The company posted revenue of $117.2 billion, down 5% year over year, and diluted earnings per share of $1.88 billion. While somewhat disappointing in the short term, these results are just a piece of the puzzle in terms of evaluating Apple’s worth.

About Apple

To see how much Apple is worth, take a look at this snapshot of the company’s current state, along with a discussion of the company’s history, value and future outlook.

About Apple
Headquarters Cupertino, California
Year Founded 1976
Founders Steve Jobs, Steve Wozniak
CEO Tim Cook
Apple’s Worth
Share Price, 52-Week Range $124.17-$179.60
Fiscal Year 2022 Revenue $394.33 billion
Fiscal Year 2022 Profit $99.8 billion
Shareholders’ Equity $56.727 billion
Information on 52-week range is accurate as of March 21, 2023.

What Is Apple’s Net Worth?

In its simplest form, a company’s net worth is its assets minus its liabilities. Shareholders’ equity, which likewise equals total assets minus total liabilities, is essentially a company’s net worth. Apple’s total shareholders’ equity at the end of the first quarter of its fiscal year 2023 was $56.727 billion.

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How Much Is Apple Worth Now?

Many companies and individuals suffered during the coronavirus pandemic, but Apple continued to shine. The company stock split 4-to-1 in August 2020. Shares saw record highs that year and in each of the two subsequent years.

Apple became the first company to achieve a $3 trillion market cap in January 2022, when its stock briefly hit a share price of $182.86, CNBC reported. Shares have fallen about 13% since then, dragging the market cap down to $2.52 trillion as of March 21.

What Is Market Capitalization?

Market capitalization is simply the number of outstanding stock shares a company has issued times its current market price. So, for example, if a company has issued 1 million shares of stock and its share price is $50, the company has a market capitalization of $50 million. Apple currently has about 15.82 billion shares outstanding, so 15.82 billion times the stock price of $159.16 as of March 21 equals about $2.52 trillion.

Market cap does have its drawbacks as an evaluation method, however. For starters, market cap changes frequently, and it’s closely tied to the company’s current share price. It doesn’t take into account any of the direct financial metrics of the company, such as earnings per share, growth rate or book value.

By way of comparison, the price-earnings ratio, which is another popular valuation method, is also closely tied to a company’s market share price. The P/E ratio also relies heavily on a company’s earnings, which some investors feel is a more important determinant of a company’s valuation. As of March 21, Apple’s P/E ratio is 26.87.

Apple’s Founders

Steve Jobs and Steve Wozniak met through a mutual friend and bonded over their love of technology. The two Steves co-founded Apple in 1976, laying the foundation for what would become one of the world’s most profitable companies, according to the Fortune Global 500 list.

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Jobs would ultimately be fired from his own company in 1985, an anecdote he shared in his famous 2005 Stanford commencement address along with his comeback story. Tim Cook was named CEO in August 2011.

According to Forbes, Jobs’ net worth at the time of his death in 2011 was $7 billion. Cook’s net worth is $1.8 billion as of March 22, according to the Real-Time Billionaires list by Forbes.

Key Product Lines Contributing to Revenue

Apple is a consumer products juggernaut. It makes a wide variety of communications devices, personal computers and other technological gadgets. Some of its most well-known products are household names, including the following:

  • iPad
  • iPhone
  • Mac
  • Apple Watch
  • Apple TV

The company also offers services ranging from iCloud to Apple Pay, among others.

Here are some of the highlights from the first quarter of Apple’s 2023 fiscal year:

  • Apple’s Services business reached an all-time record revenue of $20.8 billion.
  • Total company revenues grew on a constant currency basis.
  • Over $25 billion was returned to shareholders during the quarter.
  • The board of directors declared a cash dividend of $0.23 per share of common stock.

Apple’s Top 10 Shareholders

With the exception of Berkshire Hathaway, the top 10 shareholders of Apple stock are asset managers or mutual fund companies. As a group, institutional shareholders own 61.32% of all Apple shares. Here’s what the top shareholders list looks like:

Shareholder Percentage of Shares
The Vanguard Group Inc. 8.08%
BlackRock Inc. 6.50%
Berkshire Hathaway Inc. 5.66%
State Street Corp. 3.71%
FMR LLC 2.03%
Geode Capital Management LLC 1.79%
T. Rowe Price Associates Inc. 1.43%
Morgan Stanley 1.32%
Northern Trust Corp. 1.10%
Norges Bank Investment Management 1.06%
Source: Yahoo Finance
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Any of these shareholder percentages can change at any time, even dropping down all the way to 0%. Apple is a perennial Wall Street favorite, so these percentages may hold, but if the company’s fortunes turn sour, institutions may bail out at any time.

How Does the Future Look for Apple?

All things considered — inflation and a bear market, to name two — Apple is facing some challenges so far in 2023. In a Feb. 2 earnings call for the quarter ended Dec. 31, 2022 (Q1 of fiscal-year 2023), Cook attributed the company’s 5% revenue decline to three primary factors: foreign currency exchange rates, COVID-19-related impacts on iPhone supplies at the end of 2022 and a challenging macroeconomic environment. But the company has been a long-term success story. With a rabidly loyal consumer base and a wildly popular product line, Apple’s business model seems poised for further growth in the future.

Looking ahead to Q2 2023, Apple Chief Financial Officer Luca Maestri said during the earnings call that the company expects revenue performance to be about on par with last quarter’s. “This represents an acceleration in our underlying year-over-year business performance as the December quarter benefited from an extra week,” Maestri said. Maestri expects growth in Services despite ongoing macroeconomic headwinds. IPhone performance is also expected to accelerate, but revenue for Mac and iPad is expected to decline.

Cook is optimistic for what lies ahead. “We are excited about the year to come. At Apple, we are always looking forward, always focused on the next challenge, always determined to do great things with unmatched creativity and unrivaled innovation. And that makes me more confident about the future of Apple than I have ever been,” Cook said during the call.

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The consensus rating from 32 of 38 analysts covering Apple stock is “buy” or “strong buy,” with the rest rating Apple a “hold.” The composite price target is $169.23, according to Yahoo Finance. If the company continues to post revenue gains and avoids a major misstep with its product line, its success seems likely to continue.


Share price is just one of the variables you should consider when investing in a specific stock. Your financial situation plays a large part in determining whether or not you should invest in stocks at all — let alone invest in a specific stock like Apple. Working with a fiduciary financial advisor is a good way to delineate your investment objectives, risk tolerance and personal financial situation to determine if investing in stocks is a good match for you.

Is Apple Worth the Money?

As a dyed-in-the-wool blue-chip stock, Apple has been a great bet. But with a stock price that has appreciated significantly over the year, it can no longer be considered “cheap.” However, analysts still rate the stock a “buy” or “strong buy,” and momentum may keep pushing this stock higher.

Company Net Worth Guides

Daria Uhlig, Cynthia Bowman and Sean Dennison contributed to the reporting for this article.

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Data was compiled on March 22, 2023, and is subject to change.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.


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