“It’s a good thing for Apple, because otherwise the U.S. profit picture would look a lot different,” Jeff Cox reports for CNBC. “The Cupertino, California-based tech giant made an outsized contribution to fourth-quarter earnings, adding nearly double its portion of the S&P 500, according to an analysis of figures as about three-quarters of the index has reported.”
“Ultimately, Apple accounted for about 7 percent of total earnings, or $2.04, for the quarter, according to calculations from Goldman Sachs,” Cox reports. “That was more than the contribution of Exxon Mobil, Microsoft and General Electric combined.”
“It’s all the more noteworthy because Apple comprises 3.83 percent of the total S&P 500 market cap, or just more than half its earnings contribution,” Cox reports. “The Apple numbers are significant because they exemplify the extent to which overall profit is on the decline thanks to a slump in energy profits, despite previous lofty expectations for 2015.”
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