Interesting blast from Shira Ovide in the New York Times. I particularly liked this bit:
The current stock market value of the Big Five ($9.3 trillion) is more than the value of the next 27 most valuable U.S. companies put together, including corporate giants like Tesla, Walmart and JPMorgan Chase, according to data from S&P Global Market Intelligence.
Apple’s profit just from the past three months ($21.7 billion) was nearly double the combined annual profits of the five largest U.S. airlines in prepandemic 2019.
Amazon’s stock price increases have made Jeff Bezos so rich that he could buy a new model iPhone for 200 million people — and he would still be a billionaire.
Google’s $50 billion in revenue from selling advertisements from April to June was about what Americans — all of the Americans — spent on gasoline and gas station purchases last month.
The annual revenue of one of Microsoft’s side businesses, LinkedIn, is nearly four times that of Zoom Video Communications, a star of the pandemic, in the past year.
Facebook expects to dole out more cash outfitting its computer hubs and offices in 2021 than Exxon spends around the world to dig oil and gas out of the ground in a year.
Amazon fell short of investors’ expectations on Thursday. But in the past year, Amazon’s e-commerce revenue still climbed by $109 billion — an increase in a single year that Walmart needed the past nine years to reach.
Logic would suggest that if the companies are fighting off lots of rivals, they might have to cut prices and profit margins would shrink. So how does Facebook turn each dollar of revenue, nearly all from ads it sells, into 43 cents of profit — a level that most companies can only dream of, and higher than Facebook posted before the pandemic?
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