The scale of Apple’s earnings, reported immediately after the stock market’s close yesterday, needs no further comment, but the media can’t suspend logic, coherence and excellent math skills when reporting on an incredible quarter.
The issue was Apple’s growth in Greater China, which is composed of China, Hong Kong and Taiwan. The New York Times reported that the sales of all Apple’s products grew nearly six times from a year ago.
But here’s the rub: The Times failed to report where sales had been in Greater China a year ago. So how big could it have been a year ago?
The Wall Street Journal won’t tell us either, but at least it reports where the business stood this quarter – at $3.8 billion.
For Apple in Greater China, it’s just the beginning. Increasing business six-fold is definitely amazing, but if they do it over a year’s time stock traders can definitely lean in excitedly.
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