“Apple Inc.’s amazing quarterly earnings, released in January, continue to distort the U.S. market,” David Berman reports for The Globe and Mail Update.
“pple showed a profit in its fiscal first quarter of $13.1-billion – well ahead of expectations and more than double the $6-billion in earnings last year,” Berman reports. “That’s a big-enough gain, and Apple is a big-enough company, to have a huge impact on the average earnings gain for companies within the S&P 500 – so big, in fact, that maybe some adjustments are in order.”
Berman reports, “Without Apple’s contribution, S&P 500 earnings have risen a mere 1.6% so far this reporting season… S&P 500 earnings – when you include Apple – has risen 3.5% during the reporting season.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Kewo62” for the heads up.]