5 Biggest Tech Companies In The World After the 2022 Stock Market Collapse

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1. Apple Inc. (NASDAQ:AAPL)

Market Cap as of November 10: $2.18 Trillion

On October 27, Apple Inc. (NASDAQ:AAPL) posted market-beating earnings for the fiscal fourth quarter of 2022. The company reported earnings per share of $1.29 and beat estimates by $0.02. The company generated a revenue of $90.15 billion for the quarter, up 8.14% year over year, and outperformed Wall Street consensus by $1.37 billion. As of November 10, Apple Inc. (NASDAQ:AAPL) has a market cap of $2.18 trillion and is ranked high among the biggest tech companies in the world.

Apple Inc. (NASDAQ:AAPL) is known for its high-quality products and innovative designs. The company has a loyal customer base that is willing to pay premium prices for its products. The company’s ecosystem of products and services is another competitive advantage. Apple’s (NASDAQ:AAPL) ecosystem includes its operating system, hardware, software, and services. This ecosystem is integrated and seamless, making it easy for customers to use Apple products and services. The company also has a large cash reserve and generates a lot of cash flow from its operations, which allows it to invest in new products and services, and acquire other companies. Apple Inc. (NASDAQ:AAPL) has free cash flows of $111.4 billion.

This November, UBS analyst David Vogt updated his price target on Apple Inc. (NASDAQ:AAPL) to $180 from $185 and maintained a Buy rating on the shares.

Here is what Wedgewood Partners had to say about Apple Inc. (NASDAQ:AAPL) in its third-quarter 2022 investor letter:

Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as software, continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.”

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You can also take a look at 10 Best Safe Dividend Stocks for Retirement Portfolios and 10 Best Technology Dividend Stocks To Buy.

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