Last quarter Apple reported $13.1 billion in earnings, making the fourth best quarter of all time, notes Philip Elmer-DeWitt for Fortune. In fact, Apple has had 5 out of the 10 highest quarters and is the only tech company in the top ten.
It was Apple's fifth $10-billion-plus quarter in three years. Only oil and gas companies make that kind of money, and they haven't seen $10 billion quarter since 2011. So what about David's question? Why did the stock drop 8% Tuesday? I suspect part of the the answer can be found in the geometry of those five red bars. Apple is reporting record earnings, but Wall Street is looking for earnings growth.
Take a look at the chart below!
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It was Apple's fifth $10-billion-plus quarter in three years. Only oil and gas companies make that kind of money, and they haven't seen $10 billion quarter since 2011. So what about David's question? Why did the stock drop 8% Tuesday? I suspect part of the the answer can be found in the geometry of those five red bars. Apple is reporting record earnings, but Wall Street is looking for earnings growth.
Take a look at the chart below!
Read More