Apple Comes on Second in Forbes Top 25 Fastest Growing Tech Companies List
Apple finished second on Forbes Fast Tech 25, jumping 14 spots from last year.
Forbes ranks the fastest growing tech companies on the annual list and 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 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 IPO (who woulda thunk). 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.
It is truly remarkable that a company of Apple's size can manage to increase sales year-to-year in the fashion they do. At some point Apple will reach a saturation point. Right? Right?
[via Apple Insider