Question

What is Apple Inc. NAICS code and why would they need the code.

Answer 1

The North American Industry Classification System (NAICS) is a standard the standard developed by Office of management and budget. "It assists federal agencies to collect, analyze and publish statistical information related to various types of industries within the United States’ economy." Any company that is interested to do business with the federal government agencies must have an NAIC code i.e. it belongs to a particular industry.

Each federal marketplace opportunity is tagged to a NAICS code. Using the NAICS code, prospective vendors can research business opportunities issued by federal agencies that they can fulfill. The NAICS code indicates whether the opportunity is a good fit for business or not. Further, NAICS codes are used for contracting and tax purpose as well, so having a right NAICS code is important. For example - NAICS code also represent the size and some federal opportunities are restricted for small businesses. So if you are a small business but with a wrong NAICS code, your business may not be contracted for providing relevant services.

There are two NAICS code for Apple:

NAICS 1 - 334220 - Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing.

NAICS 2 -334111, Electronic Computer Manufacturing