“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.]