Think You Know Apple? Here's 1 Little-Known Fact You Can't Overlook.
With fiscal 2023 revenue of $383 billion and a current market cap of $3.4 trillion (as of July 1), (NASDAQ: AAPL) is one of the most widely followed companies on the face of the planet. It sells some of the most popular products out there, and the brand carries incredible power and recognition.
Many investors are likely confident they're very familiar with Apple. However, there's one little-known fact that can't be overlooked when it comes to this "Magnificent Seven" business.
In fiscal 2023, Apple generated $298 billion, or 78% of its total revenue, from the sale of hardware devices. And unsurprisingly, the iPhone represented the vast majority of this figure. This isn't groundbreaking news. Apple's success can be attributed to its ability to create beautifully designed and easy-to-use products that consumers can't seem to get enough of. And this is what it's still known for today.
Source Fool.com
Apple Inc. Stock
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