Apple’s 2018 earnings dwarfed by Saudi oil giant

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Apple wasn't close to the world's most profitable company last year.
Photo: Ste Smith/Cult of Mac

2018 was the year in which Apple became the first public company in history to reach a valuation of $1 trillion. Many articles and listicles have listed Apple as the world’s most profitable company at various points in its existence.

But is it? Based on the last year, the answer is no. Not even close. In 2018, Apple’s $59.53 billion in net income was dwarfed by the $111 billion made by state-run Saudi oil giant Saudi Aramco.

What happened to Facebook today won’t happen to Apple

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Wall Street hammered Facebook today. But the privacy concerns that pushed the company's share price down almost 20 percent aren't an issue for Apple.
Photo: Ste Smith/Cult of Mac

Facebook lost more value today than any other company in history: $120 billion. The massive selloff came after CEO Mark Zuckerberg admitted that the growing privacy concerns of the public, and the likely response of lawmakers and regulators, will hit the company where it hurts: in the pocketbook.

On the same day Facebook lost 19 percent of its value, Apple’s share price was unaffected. This is because the two companies have diametrically opposing views on the privacy rights of the public. What hurt Facebook so much is actually one of Apple’s strengths.

Weak Galaxy S9 demand cuts into Samsung profits

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Samsung Galaxy S9
This guy is running away from the Galaxy S9, like a lot of other people.
Photo: Samsung

A few months ago, Apple surprised everyone by announcing its latest smartphone was a huge hit, resulting in better than expected earnings and a big jump in company shares. That didn’t happen to Samsung.

Instead, the Korean company missed analysts’ profit expectations, partially because of sluggish demand for the Galaxy S9.

iPhone X price tag is its real killer feature

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iphone
iPhone X made more profits in Q4 than 600 Android device makers.
Photo: Apple

According to new research from Counterpoint, Apple took home a massive 86 percent of total handset market profits for the fourth quarter of 2017.

Most impressive of all is the fact that the iPhone X, which was slammed as being too expensive, earned 5x the combined profits of more than 600 Android device makers. Maybe that $1,000 price tag wasn’t such a mistake after all!

Liveblog: Apple’s toughest earnings call in a decade

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How bad is peak iPhone?
Photo: Ste Smith

Apple earnings calls are usually a time for celebration and gloating, but for the first time in over a decade the company is poised to post declining profits.

Tim Cook warned Wall Street that this would likely happen due to declining iPhone sales. Have we really reached “peak iPhone”?

Analysts and reporters will be grilling Cook and Apple CFO Luca Maestri during today’s Q2 2016 earnings call. Investors will be looking for signs that Apple still has room to grow. And Cult of Mac will be right here, liveblogging the entire Apple earnings call — and translating the financial gibberish — when the big event starts at 2 p.m. Pacific.

Get in on the action below:

Apple hoovered up 40 percent of Silicon Valley profits last year

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Apple raked in the cash last quarter.
Breaking news: Apple makes a lot of money.
Photo: Jim Merithew/Cult of Mac

Wall Street seemingly loves to be down on Apple, but if you want some figures to remind you of what a massive profit-generating giant the company is, look no further than the latest numbers collected by SiliconValley.com.

Analyzing the stats coming out of the top 150 Bay Area tech companies for 2015, Apple not only ranked number one in every important metric, but also recorded profits of $53.7 billion in 2015 — which translates to roughly 40 percent of the entire $133 billion Silicon Valley profit pool for the year.

And that’s not all.

Apple hoovers up 92 percent of smartphone profits

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Apple raked in the cash last quarter.
Newsflash -- Apple is making some major bank.
Photo: Jim Merithew/Cult of Mac

Anyone wanting an illustration of why smartphone unit sales are not the single most important metric for judging success should check out wealth management company Canaccord Genuity’s findings about Apple’s iPhone sales versus profits.

According to Canaccord Genuity, despite selling less than 20 percent of all smartphones, Apple rakes in a massive 92 percent of operating income. Samsung, by contrast, ekes out just 15 percent to take second place. Everyone else basically broke even or lost money.

Apple and Samsung now control 106% of smartphone profits

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Samsung is after more of Apple's iPhone business.
Photo: Jim Merithew/Cult of Mac
Photo: Jim Merithew/Cult of Mac

The smartphone wars are two company race and it’s not even close.

Apple and Samsung are dominating the competition so badly that a new report from Canaccord Genuity claims the two tech giants account for 106% of global smartphone profits.

Take a look at this chart:

Apple Earns More Money Than HP, Google, Intel and Cisco Combined

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Everyone knows Apple is incredibly profitable, but did you know that the top-earning tech company brings in more money than Hewlett-Packard, Google, Intel and Cisco combined?

That’s according to the San Jose Mercury News’ newly published Silicon Valley 150 list, which ranks 75 tech companies using data from Bloomberg and U.S. Securities and Exchange Commission filings.

Apple Skyrockets Into Fortune 500 Top 20

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Apple breaks into Fortune 500 top 20
Apple breaks into Fortune 500 top 20.

Apple’s explosive success since the launch of the iPad has helped propel the company higher up the ladder of of the Fortune 500. This year the company broke into the top 20 – nabbing the number 17 spot.

The higher ranking shows consistent growth by Apple – last year the company broke into the top 50 to land at number 35. In 2010 and 2009, the company scored 56 and 71 respectively.