The big five tech companies — Alphabet, Amazon, Apple, Facebook and Google — are now responsible for more than a 25 per cent of the S&P 500 index, with Apple’s first quarter results set to impress when they are revealed this Wednesday.
Wall Street estimates that from January through to the end of March, Apple made approximately AUD$100 billion in sales, netting it a profit of AUD$25.8 billion.
As The Australian pointed out, this equates to a profit of $AUD193,000 a minute.
The surge was largely due to the new iPhone 12, plus increased usage of their subscription services and app store.
Given the huge range of new products unveiled just last week, it looks like Q2 might be even more lucrative for the tech giant.
