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Apple richer than 69 countries

#1 User is offline   Dave Bullard 

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Posted 21 July 2010 - 03:49 PM

When looking over Apple's Q3 financial results, it occurred to me that its QUARTERLY profit of US$3.25 billion was more than Fiji's estimated 2010 ANNUAL GDP ... and about the same as Grenada, Saint Vincent & the Grenadines, Saint Kitts & Nevis, Comoros, Samoa, Dominica, Tonga, Sao Tome & Principe, and Kiribati combined!

The company's profit in Q1 was $3.38, and in Q2 it was US$3.07 billion. Let's be conservative and estimate Q4 at US$3 billion. That's US$12.7 billion for the year on a par with the Republic of the Congo, and more than the GDP of 69 countries.

So what do you think? Is this a case of "Good on 'em ... this means happy shareholders and more great products for us", or just a bit obscene?

Cheers
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#2 User is offline   Some Random Bloke 

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Posted 21 July 2010 - 04:05 PM

Given they primarily make consumer products I think it is a bit of an indictment, not just on Apple, but Western (and increasingly global) consumerism in general.

OTOH, nowadays you expect large companies to have those kinds of revenues. Just the way it is.

But definitely food for thought. How does our consumption affect others?
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#3 User is offline   BrianB 

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Posted 21 July 2010 - 04:34 PM

I say 'Good on Em'...it means more products for us to drool over...:-)

Hopefully some of the money they make goes back into charity as well. I know that's what Bill Gates does, so I'm sure Apple must do something similar?
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#4 User is offline   OzRacingWrap 

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Posted 21 July 2010 - 04:43 PM

Well it does mean a great share price for Shareholders but they wouldn't want to be living on the dividends.

One issue I have is the amount of cash they are sitting on. Whilst it's nice to have a good cash buffer they are now way beyond that and have been for some time.

Of course their job is to make money but maybe now they could be doing more on the social side.

History tells us nothing lasts for ever and I wonder if this is at or near the peak for Apple. The future seems bright so in one sense no but when someone is making that amount of money there will be many start ups looking for ways to enter it's markets.

In the interest of disclosure I have contributed a lot to that number :D
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#5 User is offline   Ken Gracey 

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Posted 21 July 2010 - 06:46 PM

I think they should give most of it to Charity... O and by the way did i tell you i am changing my name to Charity :P


I think if Julia gets in, they will be richer than 70 countries, with one of them being us..





TL
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#6 User is offline   mickdevlin 

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Posted 21 July 2010 - 08:40 PM

I notice that most of the countries in the list only have small populations and hence a small base for revenue from taxation. As such, there is really no basis for comparison between revenue generated by a company and that of a nation.
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#7 User is offline   Dylstra 

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Posted 22 July 2010 - 12:04 PM

I find it obscene. Western lifestyle (ie consumerism) is dependent on the economic enslavement of the Third World.

The most disturbing thing about Apple is that, unlike M$, they don't have ANY charitable intentions.

I found this article really disturbing: http://uncultured.co...global-poverty/

Here is an excerpt:

Quote

In fact, in the three years Ive been doing this project, it seems like virtually every aid & development contact Ive made in Asia, Africa, Europe, and the Americas seems to have (or knows of) someone who can help them from Microsoft.

The same cannot be said for Apple. In fact, to this day despite all the contacts Ive made, I have yet to find a single person who knows anything Apple has funded or supported in the fight against global poverty.


Check out the attached reply from Apple.

And you thought "Just hold it differently" was piss-poor.
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#8 User is offline   Islandhead 

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Posted 22 July 2010 - 12:15 PM

Interesting article Dylstra. Also saw this, and that's a lot of money!

Regardless of wether you are pro Apple or anti Microsoft (or like me somewhere in the middle lol) it certainly makes you think how we are responsible for a lot of the worlds ills.

It will also be interesting to see the reaction to this from some of the forum members, especially the very pro apple's ;)
~ Criticism may not be agreeable, but it is necessary. It fulfils the same function as pain in the human body. It calls attention to an unhealthy state of things. ~ Winston Churchill
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#9 User is offline   Dylstra 

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Posted 22 July 2010 - 11:23 PM

I hadn't heard about Paul Allen and apparently he has donated $600 million over and above the $400 million that the charity he set up has donated.

And it's not the kick from the pro-Apple camp that has me interested,it's the comments of the entrepreneurs and capitalists that I think will be interesting. :P
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