Global Macro Monitor

Stunning revenue growth, 12 percent y/y, for an almost $900 billion market cap company.  Aren’t these big guys supposed to grow like… err, um…utilities?

Services continue to rip, up 34 percent y/y, and now equivalent to almost 30 percent of revenues from iPhone sales.  The stealth transformation and diversification Apple’s revenue composition continue.  The market is going to like that.

Just for some perspective on the size of Apple’s growth:  1)  The y/y revenue change, $5.7 billion,  exceeds the dollar GDP of 41 countries of the 191 countries by the IMF; and 2) The high end guidance for just the Q1 revenue estimate of $87 billion exceeds 126 of the world’s 2017 country GDPs, including Costa Rica, Panama, Uruguay,  Guatamala, and Kenya, or almost 66 percent of the world’s economies.

Stunning!