Apple Inc. No. 1 in Profits Earning $1192 Per Second; Apple Stock Upgraded to 'Strong Buy'
By Reissa Su | March 22, 2014 11:36 AM EST
A woman looks at the screen of her mobile phone in front of an Apple logo outside its store in downtown Shanghai September 10, 2013.
In a note to the investors, Munster said the new low-cost 8 GB iPhone 5C will unlikely bring in more significant upside to the company.
He added Apple's lower-capacity iPhone will unlikely have the same impact in emerging markets like India and China. He called the launch of the 8 GB iPhone 5C as "ultimately irrelevant" for Apple in the June quarter.
Meanwhile, the ISI Group has upgraded Apple stock to a "strong-buy" rating as the firm has a $600 price objective on the stock.
The price upgrade comes after Analyst Brian Blair of Wedge Partners delivery of bad news about the company's Q1 performance.
He said Apple is on its way to a "disastrous" first quarter. According to Blair, Apple may be having a bad first quarter. He warned investors that Apple's stock could crash after the company releases its first quarter earnings. This remains to be seen after the Cupertino tech giant releases official figures for its Q1 FY 2014 earnings report.
Apple Earns $71,523 Per Minute
WorldPay Zinc, a British payment provider, has created a graphic to illustrate how much money Apple Inc, Samsung and other tech companies make every second, hour and a day. It's no secret that Apple has more than $160 billion in cash.
Figures in the graphic were taken by dividing the company's revenue and profits for FY 2013. WorldPay Zinc divided the numbers by second. Apple had earned $37 billion in profits in 2013. If the figure is divided per minute, Apple earned $71,523 per minute in 2013 or $1,192 per second.
But Samsung beats Apple in terms of revenues with $415,132 per minute. The iPhonemaker follows closely with 330,049. In third place is Hewlett-Packard Company with $216,162 while Microsoft moves to fourth place at $150,336 per minute.
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