There are eleven US Big Technology Corps which have Pretax Income above $1 bil in either the 4Q 2011 or the 4Q 2010.
Of these eleven, seven had December 2011 quarter ends, and four of them had either October or November 2011 quarter ends.
Qualcomm would also be included, since its Pretax Income in the December 2010 quarter exceeded $1.3 bil, but it will not be releasing its December 2011 quarterly earnings until February 1, 2012. Thus, it is not included with the below 11.
The Total Pretax Income growth for these 11 Big US Technology Corps increased by a very robust 21% in the 4Q 2011. However, excluding Apple's blowout earnings growth, the remaining 10 had their 4Q 2011 Total Pretax Income drop by 2%.
I think you'll see this 4Q 2011 21% earnings growth drop markedly in the 1Q 2012, mainly due to 100% first-year tax expensing of US equipment purchases dropping in half in 2012.
It's pretty clear that the US economy critically needs major US Government incentives, including wisely designed US federal income tax ones, to entice Apple to insource to the US a good chunk of its overseas manufacturing. And the same can be said of all of US Big Tech, and also all of Big US Broad-Based Manufacturing Corps.
I don't buy US Big Multinational Manufacturing Corps whining about their not hiring US workers because they aren't skilled. That's inaccurate, very selfish, "dollars over decency", and frankly unpatriotic, in these just horrible US job depression times, where so many are unemployed, where those having full-time jobs are not paid fairly, and where the best job growth is for jobettes, where the pay is extremely low, and the employee benefits even lower.
And so what are all Republican Presidential Candidates proposing to deal with this horrible US job depression? A National Right to Work for Less Program, mirrored after the State of Indiana's present initiative orchestrated by its far right-wing legislature and its Governor, which has thrown the entire State of Indiana into absolutely bitter, dysfunctional chaos.
I think these US Multinational Corps are substantially understating the present skill set of US workers, and also substantially understating how quickly these workers will be able to step up their skill set to be able to add substantial value to the products manufactured.
Also, when you look at it historically, in the heyday of US Manufacturing, US Manufacturers trained their US workers. They didn't expect the US Government to pay for this training. These Corps took the lead here, hired workers, and trained them.
Further, from much research I performed on the unremitted foreign earnings of US Big Multinational Corps, in the Clinton Presidential years and before, the extent of US Big Corps shipping jobs overseas was a drop in the bucket as compared to what has happened in the 2000 decade.
Below here are the 4Q 2011 Pretax Earnings of these 11 US Big Technology Corps, along with that earned in the prior year's 4Q.
..........................................4Q............4Q..........Increase
........................................2011.........2010......(Decrease)
.......................................PTI(L)......PTI(L).....Amount......%
........................................(in millions of dollars)......
Big Eleven US Tech
Ones With Dec 11 Quarters
Apple............................17,477.......7,963......9,514....119%
Microsoft........................8,239.......8,497........(258)....-3%
IBM................................7,274.......6,956..........318......5%
Intel...............................4,587.......4,163..........424.....10%
Google............................3,489.......3,142..........347.....11%
EMC................................1,048.........909..........139.....15%
Texas Instruments(1)........349.......1,104........(755)...-68%
Total all 7.....................42,463.....32,734......9,729.....30%
Ones With Oct & Nov 11 Quarters
Oracle............................2,960.......2,646.........314.....12%
Hewlett Packard(2).........2,310.......3,214.......(904)...-28%
Cisco Systems.................2,245.......2,425.......(180)....-7%
Dell................................1,072.......1,076...........(4).....0%
Total all 4.......................8,587.......9,361.......(774)....-8%
Grand Total all 11.........51,050.....42,095......8,955.....21%
(1) Texas Instruments 2010 PTI excludes gains on asset sales.
(2) Hewlett Packard 2011 PTI excludes asset impairment charge, winding down Web OS device business charge, and acquisition foreign currency exchange risk charge.
================================
Late Addition February 2012
..........................................4Q............4Q..........Increase
........................................2011.........2010......(Decrease)
.......................................PTI(L)......PTI(L).....Amount......%
........................................(in millions of dollars)......
Qualcomm......................1,721.......1,470..........251.....17%
Cisco Systems(A)...........2,749.......1,730........1,019.....59%
(A) Cisco Systems released these Quarter Ended Jan 28, 2012 very robust earnings numbers on February 8, 2012.
