Apple worth than Exxon ?

Apple worth than Exxon ? (Full Version)

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MrRodgers -> Apple worth than Exxon ? (1/26/2012 9:48:52 AM)
Can you believe it ? Apple shares rallied 6.7% by noon Wednesday to gain $28.30 to $448.71 and give the iPhone-maker a market capitalization of $418.3 billion, putting it ahead of Exxon’s $412.1 billion for the largest of any U.S. company. I am thinking this is very temporary. At least I think Exxon management hopes so. How about the next board meeting ?

mnottertail -> RE: Apple worth than Exxon ? (1/26/2012 10:05:55 AM)
it was on around a 40% profit margin after nut for Apple. If I could do that as an American Citizen, I could give China a run for its money, all by myself.

Lucylastic -> RE: Apple worth than Exxon ? (1/26/2012 10:54:05 AM)
http://www.nytimes.com/2012/01/26/business/ieconomy-apples-ipad-and-the-human-costs-for-workers-in-china.html “Apple never cared about anything other than increasing product quality and decreasing production cost,” said Li Mingqi, who until April worked in management at Foxconn Technology, one of Apple’s most important manufacturing partners. Mr. Li, who is suing Foxconn over his dismissal, helped manage the Chengdu factory where the explosion occurred. “Workers’ welfare has nothing to do with their interests,” he said. Some former Apple executives say there is an unresolved tension within the company: executives want to improve conditions within factories, but that dedication falters when it conflicts with crucial supplier relationships or the fast delivery of new products. Tuesday, Apple reported one of the most lucrative quarters of any corporation in history, with $13.06 billion in profits on $46.3 billion in sales. Its sales would have been even higher, executives said, if overseas factories had been able to produce more. Executives at other corporations report similar internal pressures. This system may not be pretty, they argue, but a radical overhaul would slow innovation. Customers want amazing new electronics delivered every year. “We’ve known about labor abuses in some factories for four years, and they’re still going on,” said one former Apple executive who, like others, spoke on the condition of anonymity because of confidentiality agreements. “Why? Because the system works for us. Suppliers would change everything tomorrow if Apple told them they didn’t have another choice.” “If half of iPhones were malfunctioning, do you think Apple would let it go on for four years?” the executive asked.

Edwynn -> RE: Apple worth than Exxon ? (1/26/2012 1:09:05 PM)
Oh, you party pooper. You know that we in the US want everything cheap as possible. (shuts down Indonesian factory for Ms. Moo Shoo's slipers, relocates to Denmark). There, happy now? Just funnin' with you, we hopes you know. Just bought my first cell phone last week, for $9.99. Yes, I wondered about the production process that allowed that. But I wondered even more about some of the pocket-sized pads going for $300 to $600, even assembled in the same place. Talk about margin and mark-up! -sends softest-soled slippers to Ms. Lucy, so when she takes the slipper to the smarmy interloper, doesn't hurt too much- In any case, China has had several 'worker disturbances' already, for many of them the situation being even worse now than under a market planned system. The still-commie government has lots to figure out yet. Playing pimp to their own people in service to Western consumers can only work for so long.

tweakabelle -> RE: Apple worth than Exxon ? (1/26/2012 1:13:23 PM)
Foxconn is well-known as the company whose workers' conditions are so appalling it has induced an epidemic of suicides among its workers. Foxconn's response was to install a safety net at its factory. Foxconn chairman Terry Gou has described his workers as “animals”. Foxconn manufactures consumer electronics for Apple, Sony and Nintendo among others. http://www.kotaku.com.au/2012/01/do-apple-microsoft-sony-and-nintendo-really-care-do-we/#more-487095 Manufacturing iPhones in North America would add $65 to the price of an iPhone. It would also make a big hole in US unemployment figures, boost the US Budget and deliver all the standard economic benefits of 'insourced' industry.

Edwynn -> RE: Apple worth than Exxon ? (1/26/2012 1:50:18 PM)
The iPhone thing you mention would only be allowed manufacture in the US if we imported a few million more Mexicans and Central Americans than we already are doing. The benefit to American workers from increase in productivity has been transferred from them to the owners of capital by this very expedient, alongside outsourcing. Oh yeah, the law put in place by Gingrich and Clinton back in '96 or '97 requiring that welfare moms not proceed further in their education, as previously required, but now have to take whatever maid job directly had some little bit towards that same purpose also. Sure enough, real wages have declined 4% in the US since 2000, while the .01%'s share of GDP has increased astronomically. That being done at the same time they wrecked the equity in everybody's house. Just amazing how they get all this accomplished, huh?

Edwynn -> RE: Apple worth than Exxon ? (1/26/2012 2:06:48 PM)
I should mention, I welcome the south-of-the-border folks, for the most part. Let's do it legally and be sane about it. But this does not detract from the fact that corporations have succeeded by every measure in taking the largest part of increase in productivity of labour unto themselves.

Fellow -> RE: Apple worth than Exxon ? (1/26/2012 6:00:51 PM)
quote: I am thinking this is very temporary. At least I think Exxon management hopes so. How about the next board meeting ? Why should Exxon care about it? They are not competitors. I actually expected Apple shares to go down after Steven Jobs death. The story about a drawer full of great future products left by Jobs is obviously baloney. My guess is the high price could be just a market phenomenon: money needs to go somewhere relatively safe. An interesting phenomenon is also Apple cash hoarding (76 billion). Responsible government (we do not have) should take action against this practice and force Apple to pay big part of it out as dividends.

outhere69 -> RE: Apple worth than Exxon ? (1/26/2012 6:49:21 PM)
Another issue with firms like Foxconn is that with the long hours of hand assembly, after 5 years or so you can barely use your hands due to RSI. Wunnerful.

Edwynn -> RE: Apple worth than Exxon ? (1/26/2012 7:17:58 PM)
quote: ORIGINAL: Fellow quote: I am thinking this is very temporary. At least I think Exxon management hopes so. How about the next board meeting ? Why should Exxon care about it? They are not competitors. I actually expected Apple shares to go down after Steven Jobs death. The story about a drawer full of great future products left by Jobs is obviously baloney. My guess is the high price could be just a market phenomenon: money needs to go somewhere relatively safe. An interesting phenomenon is also Apple cash hoarding (76 billion). Responsible government (we do not have) should take action against this practice and force Apple to pay big part of it out as dividends. You are hitting on something there. The biggest give-away to the rich was obtained in reducing the capital gains tax from 28% to 20% to 15%, which is why the media resolutely refuse to say anything about it, much less bring it to our attention. If a company can play the popularity contest right, shareholders reap the rewards from capital gains, rather than from dividends (which is counted as income, at a higher tax rate than capital gains). People overlook this aspect of dividend decision making.

Musicmystery -> RE: Apple worth than Exxon ? (1/26/2012 7:58:11 PM)
quote: Responsible government (we do not have) should take action against this practice and force Apple to pay big part of it out as dividends. Why shouldn't that be the decision of the shareholders, who elect the Board of Directors?

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