16 Largest US Technology Manufacturing Corps March 2018 Quarter Total Pretax Income Up 10% and Total Net Income Up 25% From the March 2017 Quarter ........................................................................................ Their March 2018 Quarter Effective Income Tax Rate Was an Eye-Popping 9.7%, 10.5% Lower Than the 20.2% in the March 2017 Quarter ..................................................................................... The US Technology Sector's Earnings Were Benefited More Than Any Other US Sector in the March 2018 Quarter By the Trump Tax Cuts Act ........................................................................................ That Clearly Wasn't the Result That the Trump Administration and the Republican-Controlled US Congress Were Hoping For

From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations, the US GAAP Net Income (Loss) From Continuing Operations and the related US GAAP Income Tax Expense for the March 2018 and 2017 Quarters for all US Technology Manufacturing Corps with stock market caps above $10 Bil on April 30, 2018 and which have released their March 2018 earnings by May 4, 2018.

									US GAAP	US GAAP	US GAAP	US GAAP
		US GAAP				US GAAP			Effective	Effective	Pretax	Net
US High Technology	US GAAP	Income	US GAAP		US GAAP	Income	US GAAP		Income	Income	Income	Income
Manufacturing Corps	Pretax	Tax	Net		Pretax	Tax	Net		Tax	Tax	% Change	% Change
Market Caps Above $10 Bil	Income	Expense	Income		Income	Expense	Income		Rate	Rate	March Qtr	March Qtr
Releasing Their March 2018	March Qtr	March Qtr	March Qtr		March Qtr	March Qtr	March Qtr		March Qtr	March Qtr	2018	2018
Quarter Earnings By 5-4-18	2018	2018	2018		2017	2017	2017		2018	2017	vs 2017	vs 2017
	mils $	mils $	mils $		mils $	mils $	mils $
Apple	16,168	2,346	13,822		14,684	3,655	11,029		14.5%	24.9%	10%	25%
Intel	5,011	557	4,454		3,815	851	2,964		11.1%	22.3%	31%	50%
Texas Instruments	1,553	187	1,366		1,255	258	997		12.0%	20.6%	24%	37%
International Business Machines	1,136	(540)	1,676		1,424	(329)	1,753		-47.5%	-23.1%	-20%	-4%
Lam Research	772	(7)	779		531	44	487		-0.9%	8.3%	45%	60%
Seagate Technology	393	12	381		212	18	194		3.1%	8.5%	85%	96%
KLA-Tencor	366	59	307		319	66	253		16.1%	20.7%	15%	21%
QUALCOMM	358	(5)	363		857	108	749		-1.4%	12.6%	-58%	-52%
Amphenol	355	86	269		298	71	227		24.2%	23.8%	19%	19%
Skyworks Solutions	292	16	276		281	56	225		5.5%	19.9%	4%	23%
Maxim Integrated Products	222	29	193		170	30	140		13.1%	17.6%	31%	38%
Xilinx	186	20	166		171	18	153		10.8%	10.5%	9%	8%
Arista Networks	143	(2)	145		74	(9)	83		-1.4%	-12.2%	93%	75%
IPG Photonics	142	36	106		101	26	75		25.4%	25.7%	41%	41%
Motorola Solutions	140	23	117		120	42	78		16.4%	35.0%	17%	50%
Western Digital	(128)	(189)	61		304	56	248		147.7%	18.4%	-142%	-75%
Total all 16	27,109	2,628	24,481		24,616	4,961	19,655		9.7%	20.2%	10%	25%