. Apple’s net revenue and income have continued to grow each year at an impressive rate over the past two years, nearing the $100 billion mark in 2022.
The chart above displays the net income of Apple from 2008 to 2022. In 2022, the company generated the highest net income in its history of close to $100 billion and more than $5 billion higher compared to the prior year. Apple is the largest tech brand with the highest market cap and the first brand to have touched the market cap of $1 trillion and then $2 and $2.5 trillion. Its market cap is approaching $3 trillion in mid 2023.
Net Income of Apple Inc 2002-2022
Amounts are in $millions.
| Year | Net Income ( $mn ) |
| 2022 | $99,803 |
| 2021 | $94,680 |
| 2020 | $57,411 |
| 2019 | $55,256 |
| 2018 | $59,531 |
| 2017 | $48,351 |
| 2016 | $45,687 |
| 2015 | $53,394 |
| 2014 | $39,510 |
| 2013 | $37,037 |
| 2012 | $41,733 |
| 2011 | $25,922 |
| 2010 | $14,013 |
| 2009 | $8,235 |
| 2008 | $6,119 |
| 2007 | $3,495 |
| 2006 | $1,989 |
| 2005 | $1,328 |
| 2004 | $266 |
| 2003 | $57 |
| 2002 | $42 |
2022: Apple experienced 5.3% year over year growth in its annual net income in 2022. the company generated $99.8 billion in net income in 2022 compared to $94.7 billion in 2021. Its total net revenue for 2022 remained $394.3 billion.
2021: Apple’s net revenues and net income grew significantly in 2021 compared to 2020. The company experienced around 64% growth in its net income in 2021 compared to the previous year. Its annual net income for 2021 was $94.7 billion in 2021 compared to $57.4 billion in 2020. Its net revenues jumped 33% in 2021 compared to 2020 and rose to $365.8 billion (the highest in Apple’s history).
In 2019, while the net revenue of Apple Inc declined by around 2% compared to the previous year, net income declined by around 7%. Net Income of Apple was $55.26 billion in 2019 compared to $59.5 billion in 2018. Apple’s net income in 2019 was the highest during the first quarter at $19.97 billion and the lowest during the third quarter at $10 billion. In the fourth quarter of 2019, net income of Apple reached $13.7 billion.