The MacBook Pro is the only Apple product manufactured in the USA. Currently, total sales of Mac computers account for less than 10% of Apple's revenue, with the MacBook Pro representing slightly more than half of Mac computers' sales.
More than 60% of Apple’s revenues come from outside the USA. While the Apple ecosystem has generated millions of jobs worldwide, fewer than 200,000 people are employed by Apple within the USA.
In summary, Apple’s growth has not led to large-scale employment or significant boosts to GDP in the USA, nor is it solely dependent on the American economy. The largest beneficiaries of employment generation have been in China, where the Apple ecosystem has created over 4 million jobs.
Their India operations are expected to create 600,000 jobs by the year end. Better economic growth in India and China helped Apple’s growth, by creating demand. But the world's largest company by market capitalization adds to NASDAQ and USA’s market cap! Given these shifts in the global economic landscape, it's worth questioning why we continue to rely on the home country’s GDP growth as a predictor of stock market direction and valuations. Traditional methods may no longer be as reliable in today’s interconnected and rapidly evolving world.
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