The iPhone rules the S&P 500
Let’s kick things off… with a shocking statistic about your phone (and if you don’t have an iPhone…get out) – the iPhone is expected to bring in more revenue than 492 of the 500 companies in the S&P 500 did last year. Apple is hopeful that the iPhone will bring in $165 billion in sales this fiscal year. In fact, $165 billion in revenue [from just the iPhone] crushes the revenue Amazon brings in from online store sales.
You’ll be saying ‘TGIW’… when Wednesday rolls around and Apple announces the new iPhone models. Well, maybe not, because remember, this is a “minor” update year, so we probably won’t see anything too groundbreaking. But hopefully, there will be good news to report so that investors can hang on to their near 20% gains the company’s stock saw in August.
They do other stuff, too… which we have covered here many times at Sanebull. But to reiterate for those just joining us – Apple makes a $#!% ton of money by offering services like the App Store, Apple Pay, iTunes, and Apple Music. So it’s not all about the iPhone (although it kind of is…).