“Apple is building one of the most stunning financial runs in the history of corporate America, as Tuesday’s blowout showing affirmed,” Sam Gustin writes for TIME Magazine.
“The company says it’s sold over 365 million digital devices over the last five years — 50 million last quarter alone — and is currently averaging nearly $4 billion in monthly profit,” Gustin writes. “It has amassed $110 billion in cash. Most insanely, this could just be the beginning: Apple is exceedingly well-positioned to take advantage of several major trends in the new digital economy.”
Gustin writes, “Investors have good, fundamental reasons to be bullish about Apple — Wall Street naysayers (such as they are) notwithstanding. The company has helped define the hottest tech category — the smartphone; it’s opened the door to widespread adoption of the tablet market — with the iPad. And it’s done this, all while buoyed — and perfectly set up — for the most important economic and financial secular change of the new millennium: the emergence of the nascent, middle-class Asian consumer, fueled by rising economic growth and standards of living.”