By Alan Steel
Last year in October, The Guardian newspaper published an article with a headline that read “Apple’s iPhone Sales Down 5% from Last Year as Analysts Worry the World Has Reached ‘Peak Apple’.
Now maybe those who scribbled this piece had started off by Googling the wrong thing.
When I Googled “Apple Turnover” and got a recipe for a cake!
That said, the article went on to describe the fall as the first decline in sales in 15 years, marking an 8% decrease in total Apple sales (not including Grannie Smith’s I’d bet!) as profits fell 14% to only $45.7 billion.
Oh, and cash on the balance sheet only grew by $5.5 billion to $237 billion.
(Folks, that’s bigger than the GDP of Greece!)
Apple shares at the time stood at $118.5, reported as being roughly the same as a year earlier.
And I wonder how many folks sold their Apple shares because of this “abominable” performance?
So, what’s happened since?
Well, Apple turnover (not the pastry) is up 28% over the last year.
How sweet is that?
Apple’s share price now sits at $160, up 35% since The Guardian’s article.
Apple incidentally this year has income every 10 seconds of over $54,000, which leaves them a $70,440 profit every minute of every day, on average.
Amazon by comparison has income every 10 seconds of less than $24,000, and a measly profit (by comparison) of only $540 a minute.
I also found that if you read at 400 words a minute, in 417 hours a year you could read 200 books…..instead of spending 5 times more checking your iPhone and watching TV.
But that, I guess, would reduce Apple and Google profits.
Google by the way has 3.5 million searches every minute but only makes $24,500 profit from them, every minute.
Now, The Guardian wrote last weekend about “an impending stockmarket crash.”
Hmmm…If they get that as right as they got Apple’s “peak turnover” then we’ve nought to worry about…
…except of course the reports of impending nuclear war triggered by that nutter in North Korea, and Trump’s emotional response to said nutter.
Maybe it’ll trigger that much needed market correction instead, and shake the weak hands out the trees.
Time will tell.
Until then, ignore the headlines.
And enjoy your Apple turnover!