Apple is disproportionately impacting indices and earnings data, skewing the picture of what is actually occurring.
“While most U.S. companies have struggled to meet earnings expectations, the Cupertino, Calif.-based maker of iPads and iPhones has surpassed even the most bullish of expectations, reporting $13.1 billion in profits during the fiscal 2012 first quarter that ended Dec. 31, more than double that of a year earlier. Revenue soared 73% to $46.3 billion. Those earnings account for about 6% of the S&P 500’s fourth-quarter earnings, according to S&P Indices, making Apple the biggest earnings contributor to the S&P 500.”
I have jokingly told people recently that there are 4 asset classes: Stocks, Bonds, Commodities & Apple. This article is more evidence supporting that . . .
Apple’s Size Clouds Market
JONATHAN CHENG And BRENDAN INTINDOLA
WSJ, FEBRUARY 15, 2012