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  • Apple Outperforms the Most Profitable U.S. Companies despite "Disappointing" Quarter


    Despite a “flat” or “disappointing” quarter for Wall Street, Apple still holds the top spot among the most profitable U.S. companies, with a significant margin on top of that. 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 2012, also by Apple.

    A comparison of Apple’s record quarter to those of the other profitable companies in the United States shows Apple head and shoulders above its peers. Apple’s $13.1 billion in profit is 31% more than the $10 billion of its closest competitor, the oil giant, ExxonMobil, which briefly surpassed Apple in market cap following investors’ negative reactions to the most recent quarter.

    As pointed out by Statista, 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, which was once targeted for $1,000 per share, currently sits at 34.7% 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.

    When it comes to technology companies, Apple earned more than twice the $6.4 billion of its nearest competitor, Microsoft. Add in the $5.8 billion earned by IBM, and Apple still beats the total by nearly a billion dollars. The Cupertino California company remains upbeat on for its future, despite the negative outlook of some of its investors. Tim Cook expressed confidence in the firm’s product pipeline, saying that the company will “continue to focus on innovation and making the best products in the world.”

    Source: Statista via AppleInsider
    This article was originally published in forum thread: Apple Outperforms the Most Profitable U.S. Companies despite "Disappointing" Quarter started by Akshay Masand View original post
    Comments 5 Comments
    1. wolverinemarky's Avatar
      wolverinemarky -
      Interesting how you can make more money then anyone else and be looked at negatively. Oh well I will keep buying their products despite what Wall Street thinks.
    1. ttthomas's Avatar
      ttthomas -
      Quote Originally Posted by wolverinemarky View Post
      Interesting how you can make more money then anyone else and be looked at negatively. Oh well I will keep buying their products despite what Wall Street thinks.
      My next purchase will be a 17" MacBook Pro with the retina display if and when it is ever released.
    1. fleurya's Avatar
      fleurya -
      Quote Originally Posted by wolverinemarky View Post
      Interesting how you can make more money then anyone else and be looked at negatively. Oh well I will keep buying their products despite what Wall Street thinks.
      Agreed! Apple has an awesome P/E ratio, tons of cash, and a great foothold in the indutries they play in that will keep them profitable for a long time, yet their stock struggles.

      Meanwhile, Amazon loses money despite everything they put out, have a ridiculous P/E ratio, and their stock is riding high.

      It doesn't make any sense at all, which is why I don't bother trying to invest.
    1. Mrteacup's Avatar
      Mrteacup -
      Quote Originally Posted by fleurya View Post
      Agreed! Apple has an awesome P/E ratio, tons of cash, and a great foothold in the indutries they play in that will keep them profitable for a long time, yet their stock struggles.

      Meanwhile, Amazon loses money despite everything they put out, have a ridiculous P/E ratio, and their stock is riding high.

      It doesn't make any sense at all, which is why I don't bother trying to invest.
      This is only in response to the amazon thing.

      Amazon is 105% for the customer. They have gone under for consumers thousands of times! They aren't in it for the customer be a little more grateful. Hell a prime example is (well amazon prime ahha) the Kindle fire hds manufacturing cost is $174 to its retail of $165, they have done this with ALL their kindles. They have lost money everytime they've manufactured and sold.
    1. iBwizzle's Avatar
      iBwizzle -
      You would think Verizon or AT&T would be on this list. Nope, most of their profit is being paid into iPhone subsidies (see Sprint) and lobbying!