Apple Is Second In Forbes Top 25 Fastest Growing Tech Companies List
Apple has finished second on Forbes Fast Tech 25. With No.2 Rank, Apple has jumped 14 spots from last year.
Forbes ranks the fastest growing technology companies on the annual list. Despite Apple’s gargantuan size the company’s growth shows no signs of slowing even after posting quarter after quarter of record earnings.
Forbes creates the list by looking at over 5,000 publicly traded tech companies with a minimum revenue if $150 million and a minimum market value of $500 million. Apple’s market value is over 1,000 times that. The companies are then examined to find which of them were most profitable.
LinkedIn earned top honors sporting 115 percent revenue growth over the past 12 months and a stock value up 144 percent since its Initial Public Offering (IPO). Apple placed second with 63 percent year-to-year growth in sales amounting to a knee-crumbling $142.36 billion in revenue. The closest company revenue wise was Cognizant Technology Solutions with $6.1 billion in sales. Apple has averaged 43 percent sales growth over the last three years.
Seeing such rapid growth of Apple, it remains to be seen when would Apple reach its saturation point.