Apple's iPad on Its Own Would be the 11th Largest Tech Company
Apple's iPad business, on its, own would be the eleventh largest technology company, according to a report from Bernstein Research analyst Toni Sacconaghi and relayed by Fortune. Last year, the iPad line did $32 billion in sales and it is expected to grow 75% in 2013 to $46 billion.
Even more impressive, it would make the Fortune 500, slotting in at No. 98, above long-established companies like McDonald's (MCD) (No. 107, $27 billion), Macy's (M) (No. 110, $26.4 billion), and Nike (NKE) (No. 136, $20.9 billion). Put another way, the iPad business handily makes more money than Gap (GPS) (No. 185, $14.5 billion) and Toys "R" Us (No. 194, $13.9 billion) combined. Not too shabby for a device launched just shy of three years ago.
Sacconaghi sees growth in 2013 and 2014 but thinks adoption will slow in 2015 due to a saturated market.