Apple to surpass Exxon Mobil as America’s most profitable company this year

“A few years ago, I predicted Apple (AAPL) would be become the world’s most valuable company,” Stephen Rosenman writes for SeekingAlpha. “Apple did just that, wresting the crown from Exxon Mobil (XOM).”

“I’ll make a new prediction: Apple will become this country’s most profitable company. Right now, the title belongs to none other than Exxon,” Rosenman writes. “That’s a giant hurdle – the oil company gushed $41 billion in profits last year. Yet, Apple will outearn Exxon this year.”

Rosenman writes, “Last year, Apple earned $26 billion while Exxon made $41 billion… Apple’s 2012 analyst consensus is $44 a share, a number that translates into $41 billion of earnings… That’s probably conservative. Apple has beaten professional analyst estimates 24 out of the last 25 quarters. It’s a good bet they’re again too low. Either way, $41 billion looks more than doable. Exxon is slated to earn $8.24 this year, or $39 billion.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Carl H.” for the heads up.]

21 Comments

    1. a truly strong society always protects and helps the weakest members. The help given is hopefully in the form of education or health care and not ever handouts. I believe that handouts are soul destroying.

      1. I disagree emphatically, a truly strong society allows its members to make their own decisions and create their own dreams without interference or penalty…in the final analysis, families take care of their own, not the government.

        1. You mean that the best attitude is to ignore the neighbour when their house burns down as long as your family is OK? When your neighbour is killed and his wife and children have no income, ignore them? When you are in a foxhole and your platoon is under fire, run away and let them fight for themselves? When a storm destroys a city that you don’t live in, let them fend for themselves?

          What a pitiful society that you envision.

          1. Your lack of comprehension of my position is the epitome of piteous. Storms destroy cities, earthquakes devastate communities, disease slaughter innocents..these are the realities of life; you can not name one incident where government has succeeded in any remedy of these catastrophes; only the individual and those of like minds solve these problems, from Jenner or Salk…no government entity has ever solved any of these inherent problems of humanity. To the contrary, they are the hindrance to their resolve.

            1. A government of the people for the people is just a bunch of like minded people who get together and decide to do something for the good of all. Your vote is your ticket to have a say about what values you want to have supported. If you value selfishness, you will get the current system.

        2. What you describe is a wandering tribe not a nation…. oh wait, even a tribe cares for its own. The children are cared for by the tribe so if the parents die, there is someone to care for them.
          Why? because if the children die,,, the tribe dies.

          Just a thought,
          en

    1. Wall street is never impressed or intelligent. 🙂

      Wall Street brokers and analyst are just out for money. Period. Usually short term quick profits. Remember that they are the ones saying that Apple will die and that Motorola will rise to the top… (of what they did not say. )

      Just a thought,
      en

  1. Oh don’t worry we “comprehend your position”, it is the “Classic American Position”, where the consequences of rampant uncontrolled Capitalism are swept under the rug, a dysfunctional society where its “every man for himself”, a society with a inept corrupt government in the pocket of Big Business. You don’t really want anyone else’s ” tired, poor and huddled masses” do you? Unless you need to increase your prison population, which makes Foxconn look like Disneyland.

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