- Despite being one of the largest companies in the world, Apple grew its third quarter sales by 33%.
- China now represents a quarter of the company’s revenue and profits, compared to the US at 40%, and accounted for 60% of the growth.
- Apple’s global share of premium sales had always been in the 60% range but our estimates have that number now much closer to 70% last quarter.
As I sit and prepare to write about this company, I realise that it actually sounds quite boring. Everyone knows this company. The big sigh I can hear stems from this undeniable fact. But just maybe that sigh is a global one and the yawning is why the stock is trading for a cash-adjusted price to earnings ratio of about 10 times.
The company is Apple (NSDQ: AAPL) and I am legally obligated to disclose that both the Montgomery Global Fund and the Montaka Global Fund own shares in Apple.