Apple more valuable than Google and Amazon by every measure but Wall Street’s sentiment

“The two stock charts [in the full article], comparing Apple’s (AAPL) performance in 2013 to Amazon’s (AMZN) and Google’s (GOOG), tell a very different story than the nine bar charts [in the full article],” Philip Elmer-DeWitt reports for Fortune. “Produced for Fortune by the reader who posts here as Merckel, the bar charts compare the three companies by more objective measures — boring things like cash flow, return on assets, earnings growth and dividends paid.”

“The three companies have different business models, of course,” P.E.D. reports. “Apple makes big profits selling high-end consumer devices at premium prices. Google takes a tiny profit from each of billions of online ad sales. Amazon is constructing a giant virtual mall, pouring the profits from its established stores (books, electronics, etc.) into new ones.”

“But putting a value on different business models is what the stock market does every day. Judging from Merckel’s bar charts, what the market seems to be saying is that it believes Google and Amazon will keep growing indefinitely,” P.E.D. reports. “For Apple, it will believe it when it sees the next hit product.”

Read more in the full article here.

MacDailyNews Take: As we recently overheard a proctologist saying at a holiday party, “It’ll all work out in the end.”

[Thanks to MacDailyNews Readers “John O’Brien,” “Apple Sauce,” “Dan K.,” and “Arline M.” for the heads up.]


  1. Say what you want about Bozos and company but they sure know how to jimmy the system. Profits? What profits? As long as we spew nonsense in the guise of innovation (i.e., the ridiculous idea of drone delivery) the market will kiss our asses and will worship Bezos at the altar of stupidom.

    1. Bro, as long as Amazon is willing to sell me stuff on the cheap, I for one, aren’t complaining. As to whether that leads to an overinflated view of their stock price, who the hell cares except the stock manipulators. At the end of the day the consumer wins.

      1. I don’t disagree with you. I guess my nuts are still chapped about the whole DOJ ebooks BS. The situation wreaked of Sally crying to mom over Billy hurting her feelings even though it was Sally that pulled Billy’s hair.

    2. The airborne drone delivery idea intrigues me. What if one were able to place an order on a Black Amazon website and specify an airdrop of carpet tacks to your ex’s driveway, or unravel a case of T.P. over an athletic rival’s dwelling? Take the transportation form factor to its extreme, I say.

        1. The emergence of this transportation and delivery mechanism will lead to novel uses, even illicit ones, possibly through the Deep Web. This early in development, I can joke about it, but they also laughed at Jules Verne and José Ortega y Gasset.

          1. Bruce Sterling anticipated and described in detail, perhaps for the first time, drone technology and Internet delivery systems, among other face-blanching ideas in his 1994 novel Heavy Weather.

    1. correction: $145 billion. The function of a public corporation is to garner investment that a company requires to grow to larger means for production.  no longer needs this investment.  no longer needs “Wall Street.” And they know it.

      1. When a crash occurs, and it most certainly will, while  sales will drop, cash will be king. All the Jim Cramers will be jumping out of windows while  survives. I am convinced Steve was aware of this and the evil of debt.

            1. Yet he is in splendid company.

              I like hearing myself talk. It is one of my greatest pleasures. I often have long conversations all by myself and I am so clever that sometimes I don’t understand a word of what I’m saying. — Oscar Wilde

            2. look, Jane, I appreciate your kind words in the past but you have no ally in me or Oscar Wilde. I simply respond to the most ridiculous posts by the most ignorant of minds. As the generation younger than me have discovered that their fingers can make letters, the shallowness of their ignorance has become exponential. This is my last post unless you give me your phone number. If not, I wish you the best.

            3. You are so very human and that is why I respond to you, puffery or profundity, it matters not. Your skin could stand a trifle more thickness given the devastation you so effortlessly effect with a mere flick of your wrist. Florence Nightingale opined that a man’s sensibility was skin deep and that accounted for his perennial aloof woundedness, bandaged over with pride. Mind you, I don’t completely subscribe to her philosophy; I like to leave room for Renaissance men, and give them a season pass. 🙂

            4. My beloved Chloris,
              I write to you from a windy hilltop, where Sandro requires your presence upon his half-shell. I only await your flowering in the spring, that we may be together to soothe these wounds that Amor has pierced in my thin skin. Until that vernal first light…

              I remain your faithful servant,

      2. LOL. Finally, a real capitalist view, instead of the shite we’re supposed to view as capitalism these days.

        The world needs more Warren Buffetts and far less Carl iCahns.

  2. > Apple is more valuable than either company by every measure but Wall Street’s sentiment.

    Credibility of the writer is questionable, when he starts the article with that line. Apple IS more valuable than either Google or Amazon, by the one “measure” that actually describes total value of a company (market cap), even as defined by current “Wall Street’s sentiment.”

    Apple – $489.39B
    Google – $373.28B
    Amazon – $180.18B

    Now, imagine what that would look like if “sentiment” reflected reality.

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