3 tech giants report combined profits of more than $50B

[mahatmakanejeeves]

Source: Associated Press, via the Washington Post

Business

3 tech giants report combined profits of more than $50B

By Associated Press
Today at 7:00 p.m. EDT

Three tech companies -- Apple, Microsoft and Google owner Alphabet -- reported combined profits of more than $50 billion in the April-June quarter, underscoring their unparalleled influence and success at reshaping the way we live.

Although these companies make their money in different ways, the results served as another reminder of the clout they wield and why government regulators are growing increasingly concerned about whether they have become too powerful.

The massive profits pouring into each company also illustrated why they have a combined market value of $6.4 trillion -- more than double their collective value when the COVID-19 pandemic started 16 months ago.

APPLE

{snip}

Read more: https://www.washingtonpost.com/business/tech-profits-soared-as-the-covid-19-pandemic-began-to-fade/2021/07/27/93a4debc-ef1d-11eb-81b2-9b7061a582d8_story.html

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If you own stock in an S&P 500 Index fund, you own stock in these tech firms. You might be a lot less diversified than you think you are.

Full disclosure: I own shares of AAPL. I own shares of MSFT. I own shares of an S&P 500 Index fund. I am, accordingly, a lot less diversified than I think I am.

[Ford_Prefect]

1. My question would be who do they own in Congress? People on both sides of the aisle I should expect.

[SWBTATTReg]

2. One must look at the total worth of these companies to see whether these returns are

ridiculous or not. Apple alone, is (or was last I hear, years ago) worth already a Trillion dollars, I don't know about the other two companies but I suspect that MSFT is, and probably Google too. I do have shares too, in MSFT (from my Mom).

[greblach]

3. Apple

For Apple, make that $2.5 trillion on the way to $3 trillion...one difference, they pay taxes (not enough, but...)

[SWBTATTReg]

5. Thanks. It's amazing to consider the value of these giant companies. Who would have

thought this 30 or so years ago these huge valuations? Thanks again for the update. And you're right, these valuations and then there are companies paying little or no taxes (income)...with such insane valuations like these how are they getting away w/ this? Sure they claim that they provide 10s of thousands of jobs, perhaps even 100s of thousands of jobs, but don't a lot of folks on a smaller scale provide 1 or 2 jobs, perhaps a little more, and yet still pay taxes out the wazoo in sales taxes, income taxes, tariffs, excise taxes, on and on and on.

[Initech]

4. This will blow some Trumper heads!

After all they hate "Big Tech". SAD!