Apple has a clear path to reach $1 trillion USD in annual revenue over the next several years.
According to NYU professor Scott Galloway, Apple could hit a trillion dollars in annual revenue with a continued expansion of its various businesses.
The Cupertino company in January became the first publicly-traded company in the world to reach a market capitalization of $3 trillion USD. But while Apple is a giant in the stock market, it still falls behind others when it comes to revenue.
With the right acquisitions and investments in fields such as banking, search, health, and the long-rumoured Apple Car, the company could see the milestone by 2030.
Currently, Apple earns about $366 billion USD in revenue, just over a third of the way to the milestone. However, that’s significantly behind both Amazon’s $470 billion USD and Walmart’s $559 billion.
Areas in which Apple could potentially expand include consumer banking, as the company has both the capital and trust that banks offer to customers, as well as its Apple Pay and Apple Card businesses.
Search is also a potential pathway, which would start with Apple losing its billions from the Safari default search deal with Google. However, this would be a “strategic unlock,” keeping searches within Apple’s ecosystem and integrated results with contacts, calendars, and other user information could make the business more valuable.
Other areas include health, home automation, the Apple Car, B2B operations, and infrastructure. Read the entire report over at Galloway’s blog.