Apple Did This to Trump Over Amazon

Amazon may be the king of e-commerce, but Apple is no small chicken either.

The iPhone maker made a $48.35 billion profit in fiscal 2017 and a $13.8 billion in net income in the March 2018 quarter.

How much did Amazon make in net income since its inception? $9.6 billion.

It was not too long ago that Berkshire Hathaway’s Warren Buffett upped his stake in Apple.

Apple “is an unbelievable company,” Buffett said to CNBC on May 3. “If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States.”

Amazon, according to Goldman Sachs analyst Heath Terry however, is still in the early stages and has said, “We are in the sweet spot between Amazon investment cycles where new fulfillment/data centers are driving accelerating revenue growth while incremental capacity utilization is driving margin expansion. We still remain in the early stages of the shift of compute to the cloud and the transition of traditional retail online and, in our opinion, the market is underestimating the long-term financial benefit of both to Amazon.”

Disclaimer: We have no position in Apple Inc. (AAPL (NASDAQ) nor Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.