And Apple hit $3 trillion during a time of severe supply chain shortages, economic uncertainty, and shipping backlogs:
If you have a NY Times subscription, there is a very interesting analysis:
Apple, like Amazon and Google, is one of the prime benefactors of the pandemic and the associated global push towards RW and BYO. Hitting $3T is undoubtedly a solid achievement, but it is by no means under circumstances adverse to these companies. Restaurants, travel, and mom & pop stores are struggling. But outfits like Apple, Amazon, MS, Google and the likes are making a killing right now, a few constraints in the supply chain or a shipping hiccup here or there won’t stop these guys.
“Tech giant Apple has sourced, and procured, 20 million masks. At least 10 million of them have been donated to health care workers across the United States, according to a statement from CEO Tim Cook. Multiple state governors thanked Cook, including New York Gov. Andrew Cuomo. Apple sent 1.9 million of the masks to New York, which is widely considered to be the epicenter of the pandemic in the United States. The company is also designing medical face masks.”
Apple was hit with the same in store retail closings and restrictions in many jurisdictions and as have businesses of all sizes, from the largest to the smallest. And Apple has been targeting businesses of all sizes for decades, very much including small businesses. They recently announced another small business initiative:
US federal, and many state and local governments gave cash incentives directly to small businesses. These are just two National initiatives:
I do feel terrible about the small businesses that are struggling, and I make a point of purchasing from local small retailers. But they are in not in the same Fortune 100 ballpark that Apple, Microsoft, Facebook, General Motors, Coca Cola, etc. are in; business that did not receive cash incentives. And I think Apple has earned well deserved kudos for its $3 trillion market cap.