Apple’s recent milestone has placed them as the first publicly traded U.S. company to hit a market cap of US $2 trillion. While 2020 has seen an unprecedented economic slowdown, Apple’s business model has remained resilient – with record revenue at US $59.7 billion. Indeed, the Consumer Tech industry is projected to grow by 5.5%/yr, with the number of users doubling by 2024 (Global Electronic Components Market 2020 Research Report).
Projected Revenue in the Consumer Electronics Segment
This is attributed to increasing consumer demand for home improvements, fuelled by Working From Home arrangements, as well as anticipated developments in artificial intelligence and voice recognition technology.
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