Advertising Budgets

Via: John Gruber’s DaringFireball
Source: the incomparable Horace Dediu’s Twitter (and his so-brilliant-it’s-scary site, Asymco)

As Gruber says, “Bookmark this chart for the next time someone tries to tell you that Apple’s success is just ‘marketing’.”


How else can we view Apple’s stock price?

The only way to view Apple’s current stock price is: suspicious.

A couple points:

  • Apple’s P/E is too low or other company’s P/Es are too high. Fact.
  • Telecos (AT&T and Verizon) have huge debt.
  • Apple’s net income is greater than all the other sixteen company’s… COMBINED. Boom.
  • Are Samsung’s numbers correct? I converted them from won (₩) and am not sure if they came out right. If they are correct, then Samsung’s P/E is very low, especially considering their EPS.

Bonus point:

  • Apple’s rare, impossible Cash and Debt are due to: rare, impossible vision and discipline.

As of: June 26, 2013
Table of tech stocks

** [not on US exchanges]