Apple is now expected to exceed $400 billion in annual revenue in 2024, with this record high driven by all of its hardware such as the iPhone, plus another record high for Services.
Renders of the iPhone 16 range
Renders of the iPhone 16 range
It’s estimated that when Apple was incorporated in 1977, its revenue for the first year was around $775,000. Nearly 50 years later, its latest official financial results showed it earning $84.78 billion in Q3 2024.
For the whole of 2024, according to research and estimates from Counterpoint Research, the company is now likely to earn more than $400 billion. Significantly, this follows a decline in earnings in 2023, and the new rise is attributed to not just the iPhone, but all Apple hardware — and services.