Apple is set to lose its crown as the world’s most valuable public company to Microsoft Corp if the iPhone maker’s shares continue their downward slide when the market opens on Friday.
UPDATE: 10:44am EDT: Microsoft at $2.457T is currently valued higher than Apple at $2.431T.
Apple took a $6 billion hit to sales during the fiscal fourth quarter due to a nagging global supply chain problem, leading to a miss on Wall Street expectations. Top boss Tim Cook said the impact will be even worse in the current holiday sales quarter.
The Cupertino, California-based company’s shares were down 3.5% at $147.30 in premarket trading, implying a market capitalization of $2.417 trillion if losses hold. The Windows software maker’s shares were up 0.7% at $324.60 at a market valuation of $2.437 trillion.
Apple, which has repurchased $421.7 billion over the years, had announced a massive $90 billion share buyback in April. As a result, the company’s outstanding stock pool keeps shrinking, ending its fiscal fourth quarter with 16.4 billion shares.
Microsoft’s stock has surged more than 45% this year, with pandemic-induced demand for its cloud-based services driving sales. Shares of Apple have climbed 15% so far this year.
MacDailyNews Take: Apple on Thursday posted an all-time September quarter (fiscal Q421) revenue record of $83.4 billion, up 29% year over year. Analysts’ wrong estimates were pegged at $84.85 billion in revenue. Panic! (dripping sarcasm)
For the 2021 fiscal year, Apple reported revenue of $366 billion, representing 33% annual growth.
For some perspective, Apple’s revenue of $366 billion in just the last 12 months was more than the total market value of Nestlé, Procter & Gamble, Mastercard, Walt Disney, Netflix, Adobe, Salesforce, ExxonMobil, Nike, Toyota… You get the idea.
For the 2021 fiscal year, Apple reported net income (profit) of $94.7 billion.
Apple’s quarterly income, fiscal 2021:
• Q121: $28.8 billion
• Q221: $23.6 billion
• Q321: $21.7 billion
• Q421: $20.6 billion
Total 2021 net income: $94.7 billion
That’s a profit of $259.45 million per day.
Profit from irrational overreaction. This too shall pass.
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Stop comparing revenue (a flow) with market value (a stock).
“Everything Woke Turns to Shit!”
Why the hell are people talking about revenues? The companies exist to generate a profit, not revenues.
Growth in revenues indicates strength for all other area such as services. Growth of net profits does not indicate overall strength, just more efficient production.
Becuase companies that make no profit or very little of it can pretend Tesla, or Uber, for example.
Tesla most of the time has not made a profit and the market valuation is more than a trillion. Apple should be many times more “valuable” applying the Tesla parameters .
But Tesla is innovating in more areas and has a visionary CEO. Tesla is the new Apple.
New Apple made a Profit Tesla isn’t Apple in anything. The fit and the finish SUCK…..
Tesla reported its first full-year profit (’21), a feat 18 years in the making.
Most don’t know that his BTC acquisition was more profitable than Tesla’s car sales. That maybe visionary, but I assume you are using “visionary” per EV’s?
He’s consistently spouted things that are simply juvenile and some raised concern with the SEC (ie “funding secured”). His fickle “commitment” to BTC and then quickly reversing is another curious example. Same with DOGE coin. It was a profitable buy, but it is in the same category as a Robinhooder buying Game Stop or another meme stock of the day. A CEO smoking weed publicly hasn’t traditionally been a confidence-inducing move for a CEO. Though times have changed, I’m still not sure this is CEO consistent.
There’s little doubt he’s smart, but he has a very difficult time pulling all elements together that would describe a “visionary CEO.” He’s had 18 yrs to develop a moat–with astounding govt subsidies–but the many bulls charging behind are guaranteed to pull the rug from Tesla’s precious lone-ranger position.
EVs, space travel, cybernetics plus whatever else he has going on we’re not aware of. I agree his social skills need work, but then he’s an Aspie like Gates (another common trait among genii).
Smart doesn’t = visionary CEO (of a public company). Period.
Your romantic infatuation is affecting clear vision. 18 yrs before one profitable year…not a good sign.