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Apple
AAPL · NASDAQConsumer Electronics
The economic chain
Follow the chain left → right, from inputs to end demand. Tap any company to trace its links.
Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
Components &siliconchips, displays, sensorsFoundry &assemblyfab, contract manufacturi…Appledesigns & sellsChannels &servicesstores, carriers, App Sto…Consumerswho actually paysTSMTSMCAVGOBroadcomQCOMQualcommSONYSonySECSamsungSKSK HynixMUMicronASMLASMLFOXFoxconn (Hon Hai)LXLuxshareAAPLAppleSVCServicesSiA / M-series siliconAS&OApple Stores & online···Carriers & resellersDEVApp developersGOOGGoogleYOUConsumers
$211.30
▲ +0.4% today
Company details
Market cap
$3.9T
P/E ratio
37×
Div yield
0.4%
EPS (TTM)
~$7.3
Profit margin
~26%
Rev. growth
+6%
Revenue (FY25)
$416B
Free cash flow
~$100B
In plain English
Apple designs the iPhone, Mac, iPad and Watch — and, increasingly, the silicon inside them (the A- and M-series chips) — then has Asian partners like TSMC and Foxconn fabricate and assemble them. On top of ~2.4 billion active devices it runs a huge, high-margin Services business (App Store, iCloud, Apple Pay, Google search & Gemini deals) and returns nearly all its cash to shareholders through the largest buyback programme in history.
In simple terms
What Apple really sells
Apple designs the iPhone, Mac, iPad and Watch — and, increasingly, the silicon inside them (the A- and M-series chips) — then has Asian partners like TSMC and Foxconn fabricate and assemble them. On top of ~2.4 billion active devices it runs a huge, high-margin Services business (App Store, iCloud, Apple Pay, Google search & Gemini deals) and returns nearly all its cash to shareholders through the largest buyback programme in history.
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Risk read
Moderate
SteadierMore speculative
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