Apple has outperformed the broader market under President Trump

Just days before the U.S. presidential election, tech’s five most valuable companies reported quarterly results. All five companies — Amazon, Apple, Facebook, Google, and Microsoft — have outperformed the broader market during President Trump’s first term.

President Trump tours Apple Mac Pro facility with CEO Tim Cook in Austin, Texas on Wednesday, November 21, 2019
President Trump tours Apple Mac Pro facility with CEO Tim Cook in Austin, Texas on Wednesday, November 21, 2019

Ari Levy for CNBC:

Big Tech, their collective moniker, has been a huge outperformer during President Trump’s first term. The founders of Amazon, Microsoft and Facebook are now the three richest people in the world, and Google’s two co-founders are in the top 10.

Add in Apple, the biggest U.S. company by market cap, and you’ve got almost $7 trillion in stock market value, accounting for 46% of the Nasdaq 100. The stocks are up between 83% (Alphabet) and 291% (Amazon)… Unlike Amazon, Apple’s 272% market cap increase is not a reflection of growth, which has been subdued.

Apple has rewarded investors with buybacks, repurchasing close to $200 billion worth of stock since 2016, and increased dividend payments. It’s made up for flattening iPhone revenue by building a healthy software and services business and by introducing popular products like AirPods and bolstering Apple Watch sales.

Apple continues to crank out new iPhones and investors continue to bet that consumers will buy them. Earlier this month, the company announced its new lineup of iPhone 12 models, all of which support faster 5G networks.

“We believe wireless carriers are going to offer promotions to drive unit sales of iPhones to a much greater degree than they have in a long time to justify the billions of dollars they are spending to upgrade their networks,” wrote Tom Forte, an analyst at D.A. Davidson, in a report on Oct. 22. Forte recommends buying the stock and says, “Apple’s first lineup of smartphones on 5G networks are better positioned than investors completely appreciate.”

MacDailyNews Take: In Apple’s fiscal 2020, comprising the twelve months ended September 26, 2020, the company posted total net sales of $274.515 billion.

We’ll pause to let that sink in…

That’s up $14.341 billion over FY19’s total net sales of $260.174 billion.

During a global pandemic.

Apple’s buybacks and dividends do help, of course, but growing net sales to $274.515 billion during a global pandemic bodes quite well for future growth, epsecially as the multi-year Mother of All iPhone Super Cycles kicks off FY 2021!

81 Comments

  1. Mark my words from last month:

    This 2020 race is over.

    The internals are getting even stronger for Trump and the GOP.

    President Trump will be re-elected and the Senate majority will likely increase by at least a seat.

    Really, the only question in 2020 is how long are Trump’s coattails and will they sweep through a sea change in the House, too.

    First Then, October 22, 2020

    See you on November 4th! 😀

    1. Just like Apple outperformed under Obama. MDN stop trying to influence the election for a doichebag. The economy does great under democrats. You’ll see

      1. So its ok for CNN and MSNBC and you to try to influence the election??? How stupid can you be?????? Never mind, you are a democrat, that answers the stupidity question.

      2. History shows the D’s stock market is on average 5% higher than the R’s (1930’s to date).
        When the D’s, or R’s control both houses and executive, the market for both is quite high…approx 14% gains.

        The market likes $$ flowing and predictability/stability. The Fed/Treasury are both HUGE instigators and catalysts for recent market gains. FB, Goog, AMZN, AAPL MS comprise over 20% of the S&P and they ALL have been HUGE benefactors of govt infusions. They’ve gained double digits since March and most of the rest have shown paltry gains, if any.

        It’s predicted by MANY that both candidates will continue with massive spending bills..each with their own focus. Certain sectors will gain more than others, but the econ will be pumped. Fortunately for holders of the FAANGs, such infusions will find their way to these stocks in one form/another (simple store of value, insurance co’s, pensions, etc), so, it’s reasonable to think all will gain in the next year/two…even Apple with disproportionate REAL growth.

        Many think we are in, or preparing for, a period of high asset growth, regardless of the prez. Call it a “Melt-Up.”

    2. trump is a criminal and a con man.

      not a republican, not a democrat, a criminal and a con man.

      Shame on MDN for being conned, and believing that profits are worth the damage to the country.

      Apple will be fine and make everyone lots of money.

      but trump is a cancer who can’t be gone fast enough.

      1. John, Trump and his family did not take a penny from China.

        Biden was the biggest Senate proponent of NAFTA in the 1990s when presidential candidate Ross Perot described it as the “giant sucking sound” of jobs out of the USA.

        Pay attention, their is an ongoing FBI investigation RIGHT NOW of Biden family connections to Ukraine, China and other countries and pay for play if you know what that means.

        Ask yourself, after 47 years in government accomplishing next to nothing except making yourself RICH, I have a question for you — how can you vote for this man?…

      2. The depth of gullibility and stupidity that it takes to support a corrupt, racist, lying dementia patient is incredible. Biden supporters are the dumbest things on 4 legs.

    3. Sounds like you are giving trump credit for Apple’s success. You and trump are one in the same. Dishonest and lacking of any integrity whatsoever. (I’m not even adding the thousands of cases of manslaughter he is guilty of.
      Now the fun part begins. See you on November 4th!

          1. And if you are over 70 with two or three pre-existing conditions, you might die. A lot of people over 70 with pre-existing conditions die. Most, if fact. This will probably continue after November 3 and despite Apple’s profits. Get over it. In the meantime, be an adult, wash your hands and don’t pick your nose. I trust you will make it just fine!

            1. 45,000 of the dead were under 65 years old, and many of those had no previously identified health issues. Many of the remaining 170,000 or so dead caught the virus from a younger person who was not practicing social distancing because somebody like you or the President told them it was safe. In addition to the dead, further hundreds of thousands have been hospitalized or suffered long-term disability. Despite the stream of lies from the White House since January, the danger from the novel coronavirus is not a hoax.

          2. Drive by snide Democrat brainwashing campaign talking points amount to NOTHING.

            I trust the president to reenergize and reconstruct the greatest economy that we enjoyed in the first three years.

            You on the other hand are banking on Biden to handle the pandemic with empty campaign slogans, the classic is I have a plan, a better plan.

            Wow, awed how DEEP. Possibly you are the one that will die under your hero..,

    4. The delusion is strong with this one. Looking forward to your GOP house of cards spectacularly collapsing and your misguided hubris and stupidity crushed on Nov. 3-4th.

    5. “We’ve got three polls today showing Donald Trump at 30 percent or higher with black voters,” he told his national radio audience Monday. “We’ve got Emerson, we’ve got Rasmussen and we’ve got Marist!”

      Rush was echoing a Trump 2020 campaign email titled “Black Voters Are Raising Their Voices in Support of President Trump. Recent Polls Show Significant Increase in Support from Black Community.”

      “You can’t dispute the fact that African-Americans have been benefiting from President Trump’s policies,” Katrina Pierson with the Trump campaign said in a statement. “Four years ago, the president asked the black community, ‘What do you have to lose;’ now we are thinking, ‘Imagine what we stand to gain!’”

      https://www.newsday.com/opinion/commentary/black-voters-donald-trump-support-1.39184208

      1. Sorry Booker T 91% of all black voters across the land will not be voting for the slumlord and neither will 77%-80% of Jewish voters, 65%-75% of Hispanic and Asian voters also won’t be joining the slumlord. Only (Florida Man) Cuban Hispanics will be voting for II DUCE in any numbers….

      2. Most African-Americans are not going to support somebody who cannot bring himself to say that Black lives matter. Ironically, the measures that the Republican Party is taking to suppress voter turnout in minority communities will affect Trump voters too.

        1. Oh right, the president is going to mention the liberal anarchist group blacks burning black businesses to get black votes.

          Stupidest statement I have heard this election cycle..,

          1. GoeB, you didn’t hear Biden say that if a black person didn’t vote for him, well “they ain’t black!”

            Hmm, here I thought THAT was the stupidest statement to be heard this election cycle.

          1. Who ever said they did? I wasn’t talking about the capitalized Black Lives Matter Movement. I was talking about the unwillingness of Republicans who rely on a base of white men with a high-school education to simply utter the uncapitalized phrase “black lives matter.” If that does not bother most African-Americans, it should.

            1. “Who ever said they did? I wasn’t talking about the capitalized Black Lives Matter Movement.”

              You implied as such in your DECEPTIVE abbreviated writing style that is clear as mud. Earlier you denigrated President Trump for not mentioning the Marxist destructive movement by name, but now you are changing your tune it’s not about capitalized letters. You are a dishonest scumbag, but not at all a surprise from the ranks of liberal Democrats.

              “I was talking about the unwillingness of Republicans who rely on a base of white men with a high-school education to simply utter the uncapitalized phrase “black lives matter.”

              What you are talking about is racist! For the third time I have read you denigrating whites here like they are sub humans because they don’t achieve a pedigree Ivy League degree. Well, I am white and one of them you look down your nose at and in STRONGEST TERMS — I don’t appreciate your reckless attacks repeatedly against whites.

              Stuff it TxRacist!…💪🏼🇺🇸

        2. TXUser; were you tempted to say it is kind of like “Somalia lawlessness?”

          Can you clarify, was in BLM/org, or the phrase to which you refer?
          I ask because you have a knack for mixing pertinent details. You know, kind of like the “Nazis = nice people,” statement.

          Your write up about the “Trump Train” was a real ACE, btw. Way to streeetch some details. Did any of the trucks have machine guns on the back?

          1. I was tempted to say it, but I thought all the videos of armed thugs trying to imtimidate their neighbors by buzzing them in trucks flying a warlord’s banners spoke for themselves. What details do you think I stretched?. The basic notion of physically threatening a political opponent with a candidate’s approval is so appallingly unAmerican as to boggle the mind. On reflection, maybe you’re right about the trend line towards Somalia.

            1. “What details do you think I stretched?.“ Ronner spelled it out obviously you have a reading comprehension problem and struggle to twist it favorably in your direction…

        3. The only people who say Black Lives Matter are racist, violent and idiots. Why would the President of the US pander to those morons???????

          The same BLM supporters have no problem killing others and killing babies. They should be locked up.

    6. LOL, what polls are you looking at? Trump has about a 10% chance of winning per Nate Silver’s estimate at 538 and a blue wave is shaping up to take back the senate and increase seats in the House. Biden 2020! Blue Wave!!

  2. A blue tsunami is coming. Honesty, decency, and caring will replace the current malevolence in Washington. Trump will spend his remaining years filing for bankruptcy and trying to stay out of jail.

    1. A guy who sold his soul to China in an influence peddling scam plus the required money laundering to cover up the fact is going to restore “honest, decency and caring” to Washington?

      You lefties have to be the most intellectually dishonest creatures ever to haunt the face of the earth.

      1. Haha. “Lefties”. What a binary, dim-witted attempt at a slight. Any time someone ignorantly criticizes someone else without any evidence, they are most likely a hypocrite.

        1. I’m not pleading a court case here, chief. You want evidence, it’s already out there in abundance for all to see. But lefties like you will avoid it, ignore it, play it down and pretend it doesn’t exist, because, like I said, you’re the most intellectually dishonest creatures to even haunt the face of the earth.

            1. I’m not your “bruh,” dum-dum.

              Here, I’ll talk you through it:

              Step 1) Put the following words into a non-biased search engine:

              Joe Biden money laundering

              Step 2) Look into it by pretending that, for the first time in your pathetic life, you’re a big boy.

      2. You’re parroting the lies of a con man because you have been conned.

        trump’s corruption – proven corruption – in a single week goes far beyond anything anyone has ever accused Biden of, without proof, over a half century in public service.

        1. What “proven corruption” are you a blind partisan idiot?

          2.5 years Mueller investigation on Russian balonely — NOTHING!

          Stay tuned for the FBI investigation going on now investigating the Bidens.

          Please try to keep up and get a grip…

      3. Trump is the only candidate that has been proven to have profited off China. He’s paid more taxes to China than the US! Biden 2020!

        I look forward to having a president that works to unite the country and does not promote conspiracy theories.

    2. “Honesty, decency, and caring”

      What planet do you live on?

      47 years in the swamp with nothing to show for it except getting wealthy. FBI investigation of Biden’s foreign dealings ongoing, expect findings after the election.

      You must be young and too idealistic to see the forest for the trees. Reality is something else…

        1. Twice actually and only because I cannot edit my original post to add the second post. But hey ho, whatever floats your boat on a Sunday…..
          I will say I used to visit MDN everyday, then it just went downhill fast, so now it’s once in a blue moon and only when I’m REALLY bored and need a laugh.

      1. Not in a Marxist society! In the future, online content will be controlled and regulated. Anything but the party line will be buried. Free thought will be banned.

        1. The Marxists aren’t holding Senate hearings on forcing private American companies to publish “balanced” content, as defined by the Federal Government. Republicans are.

          1. Hey Mr. Implied, what are you specifically talking about?

            The Senate hearings are investigating the suppression and censorship of Republican and conservative posts almost 100% of the time. Section 230 allows them to single out conservatives with impunity by law and immune from lawsuits not afforded all other businesses in the USA. That is just wrong and must be corrected by congressional action. 95% of contributions from Silicon Valley are to the Biden campaign, obviously you have no problem with that and see NO connection to bias actions by social media, gee what a surprise.

            Couple conflicting examples:

            Social media posts still up and not taken down the Ayatollah of Iran posted the Holocaust did not happen and death to Israel. So this is OK with you from the Number One sponsor state of terrorism in the world?

            The leaked tax returns of President Trump breaking federal law and still posted. Is this OK with you?

            The social media liberal mob took down the account of the oldest newspaper in the USA founded by Alexander Hamilton who signed the United States Constitution September 17, 1787. Is this OK with you?

            Answer: Of course it is.

            You have never been about fairness and fair treatment of President Trump. You posted several times you have not seen ONE ACCOMPLISHMENT under his leadership in almost four years. False and a another partisan LIE, but hey that’s the partisan world you live in.

            Not the real world like the HONEST good citizens of the USA coast to coast…

            1. You are ignoring my point. We agree that media bias is a bad thing. However, we seem to disagree on whether it is constitutionally protected. Since the days of John Peter Zenger, Americans have insisted that the government has no business dictating the content of free speech and a free press. I happen to agree with that. I’m not going to apologize if that offends you.

    1. then leave !! MDN community won’t miss you. And who are you to say what “belong here” Look at all the articles with high count comments they are all political. This is place for spirited debate. Right or Left its game on at MDN. Mark you should hang out at the AARP forum or the CNN/NPR echo camber. We don’t want to hurt your sensitive feelings. This place isn’t safe for the weaker. You are in the jungle.

  3. Apple’s profits benefited from the pandemic, as far more people needed to stay home and rely on technology to communicate.

    So… we want more pandemics?
    No.

    Trump has done nothing but ride Obama’s coat tales and bring the nation to the brink of civil war.

  4. “International sales accounted for 59 percent of the quarter’s revenue.”

    How MDN and CNBC can make silly statements about stateside political economy when only 41% of Apple’s revenue comes from the U.S. is beyond me. Trump has little effect on the production and sales of Apple products and services outside the U.S.

    And when you look at that 41% of revenue generated in the U.S., or approximately $51B in the 3rd and 4th quarters 2020 ($59.7B + $60.7B = $121.4B x 41% = $51B), how much of that revenue was the result of Pandemic stimulus? A significant amount, and that amount is now on the books of the U.S. Treasury and taxpayers as debt.

    So we can rah-rah Apple’s financial success all we want, and I’m glad Apple is doing well. But ultimately neither the stock market nor sales during a deficit-fueled, stimulus buying spree by consumers is indicative of how well the company is doing.

    As a long term professional Apple user and provider of services, I look to the same indicators that I always have as to how the company is doing: 1) TCO (look it up if you don’t know it); 2) forward migration (or not milking past products for all they’re worth); 3) ease of use; 4) productivity; 5) innovation; 6) support to customers; 7) support for developers; 8) resilience to outside market and socio/political forces.

    There are more, but Apple is doing exceedingly well in most those categories. So I don’t care about its stock value, nor do I care about revenue numbers or comparisons to the broader tech market. I just care that I can do what I and my clients want with Apple technology, and that I can continue to do that in the foreseeable future, even in the face of a stock market collapse, radical restructuring of the tech market, or socio/political chaos. I stuck with Apple during the dark days of the ’90s when bankruptcy and closing shop were a reality, and borrowing money from Microsoft was a necessity. I’d do it again in a heartbeat.

    1. another way to look at it
      USA is only 3% of the world population but account for 41% of Apple’s total sales.

      “neither the stock market nor sales during a deficit-fueled, stimulus buying spree by consumers is indicative of how well the company is doing.”

      so your against another stimulus bill or just against USA all together. Are you so blue that your CCP red ?

      Before the CCP virus AAPL was killing it both in terms market value and consumer spending. CCp Virus hit on apple’s market cap but they are back and it hurts your feelings and narrative that USA is fading as China rises.

      1. No, it wasn’t “killing it” before Covid. Stock price was rising, but it was notably disconnected from actual earnings. Take a look at August 2019 stock price and increase that followed with no commensurate earnings. It hit a new record in early ’20 for what reason?

        Then it continued to rise, even though the CEO couldn’t/wouldn’t give quarterly estimates.

        AAPL is a huge benefactor of govt infusions. Take away those and stock buybacks (which translate to EPS gain) and the AAPL virility is quite different. No, for the bedwetters, I’m not saying AAPL is doomed, but stock price, market cap and new 5G iPhones don’t shield everything. Btw, Apple’s recent report noted numbers of just 1% yoy growth.

    1. We all die Libtard idiot! If you are implying you are going to die sooner in Australia because Trump is elected for a second term. All I can say is I pray you don’t reproduce…

    1. if you are driven away then why the heck would you comment. How did you read this article if you are driven away. Your comment is number 42. You are pretending to be high minded but in truth you are here reading all the comments, but since you don’t have anything original or relevant to say you choose to be above it all. You are only important in your own mind. On this platform you are judged by what argument you bring. Left or Right this is not t-ball or flag football. We are full contact so please get off the field and make room for the players 🙂

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