Apple's 'disappointing' quarter still outperforms the most profitable US companies
Even after a quarter widely panned on Wall Street as "flat" or "disappointing," Apple holds the top spot among the most profitable U.S. companies by a significant margin.
The $13.1 billion in profit Apple posted for the first quarter of 2013 is the most profitable quarter for a tech company in history, just edging out the record $13.06 billion set in the first quarter of 2013 ? also by Apple.
A comparison of Apple's record quarter to those of the other most profitable companies in the United States shows Apple head and shoulders above its American peers. Apple's $13.1 billion in profit is 31 percent more than the $10 billion of its closest competitor, oil giant ExxonMobil, which briefly surpassed Apple in market cap following investors' negative reactions to the most recent quarter.
As statistics portal Statista points out, the only companies to ever post a higher quarterly profit are ExxonMobil and Russian energy giant Gazprom, which posted $16.2 billion in profit for the first quarter of 2011.
Apple, once targeted for $1,000 per share, currently sits 34.7 percent below its all-time high of $700 per share. Meanwhile, it earned $100 million more in the first quarter than firms Wells Fargo, Proctor & Gamble, and General Electric combined.
In terms of technology companies, Apple earned more than twice the $6.4 billion of its nearest competitor, Redmond software giant Microsoft. Add in the $5.8 billion earned by IBM, and Apple still beats the total by nearly a billion dollars.
Apple's team remains upbeat on the company's future, despite the negative outlook of some investors. CEO Tim Cook expressed confidence in the firm's product pipeline, saying during the quarterly conference call that "we continue to focus on innovation and making the best products in the world."
The $13.1 billion in profit Apple posted for the first quarter of 2013 is the most profitable quarter for a tech company in history, just edging out the record $13.06 billion set in the first quarter of 2013 ? also by Apple.
A comparison of Apple's record quarter to those of the other most profitable companies in the United States shows Apple head and shoulders above its American peers. Apple's $13.1 billion in profit is 31 percent more than the $10 billion of its closest competitor, oil giant ExxonMobil, which briefly surpassed Apple in market cap following investors' negative reactions to the most recent quarter.
As statistics portal Statista points out, the only companies to ever post a higher quarterly profit are ExxonMobil and Russian energy giant Gazprom, which posted $16.2 billion in profit for the first quarter of 2011.
Apple, once targeted for $1,000 per share, currently sits 34.7 percent below its all-time high of $700 per share. Meanwhile, it earned $100 million more in the first quarter than firms Wells Fargo, Proctor & Gamble, and General Electric combined.
In terms of technology companies, Apple earned more than twice the $6.4 billion of its nearest competitor, Redmond software giant Microsoft. Add in the $5.8 billion earned by IBM, and Apple still beats the total by nearly a billion dollars.
Apple's team remains upbeat on the company's future, despite the negative outlook of some investors. CEO Tim Cook expressed confidence in the firm's product pipeline, saying during the quarterly conference call that "we continue to focus on innovation and making the best products in the world."
Comments
But then, I suppose XOM would be similar too.
The stock market is subject to the whims of investors, which are largely irrational.
This means only one thing...
Apple is DOOOMEDDD!
If there are any professional fund managers in this group of panic sellers, they should be fired.
What happened with the SEC looking into the huge drop?
So the argument for Apple now is "we don't suck as bad as the other guy"? Is that what you are saying, AppleInsider?
I'm sorry, but these people need investigating. The SEC needs to do its job here...
Well if you don't suck as bad as 99.99% of everyone else, then I'd say you're winning.
Apple stock is like a gigantic black hole in the center of our galaxy sucking in whole stars and planets. With Apple, money goes into the company but it never comes out.
Quote:
Originally Posted by mvigod
Problem is the massive profits already in their market cap. Growth is slowing to flat next quarter or down if you run apples guidance. So great quarter but as second largest market cap double Microsoft still it is already priced in
What 'massive profits' in their market cap? Care to elaborate on your valuation model and assumptions?
Quote:
Originally Posted by Constable Odo
Apple is the biggest value trap on Wall Street for investors. Stay away.
Apple stock is like a gigantic black hole in the center of our galaxy sucking in whole stars and planets. With Apple, money goes into the company but it never comes out.
/s
Quote:
Originally Posted by Constable Odo
Apple is the biggest value trap on Wall Street for investors. Stay away.
Apple stock is like a gigantic black hole in the center of our galaxy sucking in whole stars and planets. With Apple, money goes into the company but it never comes out.
Yeah, if only I hadn't bought shares at $6.50/share. I wish I had listened to you.
Saywha? 103% better or somefin'?
Quote:
Originally Posted by AppleInsider
CEO Tim Cook expressed confidence in the firm's product pipeline, saying during the quarterly conference call that "we continue to focus on innovation and making the best products in the world."
Well, in spite of Apple being doomed to forever disappoint the market thank god they are focussed on what matters.
Quote:
Originally Posted by AaronJ
Yeah, if only I hadn't bought shares at $6.50/share. I wish I had listened to you.
You did? You lucky (clever?) sumenabitch!
$13.1 Billion profit in the last quarter, and this proves "it's like the 80s all over again" how?
WOW...disappoints and still better than anyone else!
Apple is indeed doomed!
Now everyone sell sell sell...drive that stock price down......so I can buy and ride the next wave when it goes to $1000 a share
Quote:
Originally Posted by mvigod
Problem is the massive profits already in their market cap. Growth is slowing to flat next quarter or down if you run apples guidance. So great quarter but as second largest market cap double Microsoft still it is already priced in
I still wonder what profits are included in Amazon's market cap.