Semiconductor expenditure of Apple 2011-2022

In 2022, Apple’s expenditure on semiconductors equated to 67.06 billion U.S. dollars, down from the 68.85 billion U.S dollars that was observed in the previous year. Apple remained ahead of Samsung as the top spender in 2022, driven by its success in wearable products such as the Apple Watch and AirPods, as well as increased demand for Mac computers and iPads.

Strong sales for Apple despite COVID-19

In August 2020, Apple’s shares had risen by more than 50 percent during the year, despite the coronavirus (COVID-19) pandemic forcing the company to shut retail stores, as well as facing political pressure in the United States over its links to China. During the crisis, many tech firms were able not only to survive, but to thrive, with Apple being no exception. For the fourth quarter of 2020, Apple was able to generate 64.7 billion U.S. dollars in revenue.

Apple as a two trillion U.S. dollar company

The strong sales observed through 2020 saw the company’s share price rise to a such an extent that on 19 August 2020, Apple was valued at two trillion U.S. dollars, becoming the second company in history to do so. Saudia Arabia’s state-owned oil company Saudi Aramco is the only other company to have achieved the feat, briefly skimming above the 2 trillion dollar mark in December 2019. Apple has become the first US company to be valued at this level, with other notable US companies such as Amazon, Microsoft, and Alphabet all valued at over one trillion U.S. dollars.