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.
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