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A 15% drop in iPhone sales, but net income stayed the same. ~$60B in net income in the last 12 months, and the market cap minus shareholders' equity is now ~$6
by DVassallo 8y ago
A 15% drop in iPhone sales, but net income stayed the same.
~$60B in net income in the last 12 months, and the market cap minus shareholders' equity is now ~$610B.
Apple could afford to pay a 10% dividend (on the share price ex shareholders' equity) just from its earnings, without touching cash. And that's with iPhone sales dropping 15%.
- umeshunni 8y ago> net income stayed the same the WSJ article says it was helped by a tax rate that declined to 16.5% from 26% a year earlier prior to the 2017 tax overhaul.
- adventured 8y agoThe operating income shows the income drop that the big tax rate change (which won't repeat next year) is helping to soften in the net income figure. A decline from $26.2b to $23.3b, or 11%.
- DVassallo 8y agoTrue. Still, the argument that AAPL is undervalued still stands even if they did $55b in net income next year. Or $50b.