In Comparison, These Four Largest California Techs (Alphabet, Facebook, Visa and Intel) Reported Total PTI of $24.381 Bil in Their March 2018 Quarter, Up 46% From Their March 2017 Quarter Total PTI of $16.744 Bil
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In Similar Fashion, These Four Largest California Techs (Alphabet, Facebook, Visa and Intel) Reported Total After-Tax Net Income (ATNI) in Their June 2018 Quarter Which Increased By 27%, Whereas Their Total ATNI in Their March 2018 Quarter Increased By 80%, Both From Their 2017 Quarters
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Anyway You Look At It, This is California Largest Tech Co Massive US GAAP Earnings Growth Deceleration At Least Somewhat Similar To What Happened to California Techs in 2000, Where Many Tech Pundits Running Intrinsic Value Models Incorrectly Assumed That the Very High Revenue and US GAAP Earnings Percentage Growth Numbers Would Continue For a Very Long Time.
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After Reviewing So Many Oil & Gas Company June 2018 Quarter Earnings Which Nearly All Show Off-the-Charts Earnings Growth, It Is Pretty Clear That The Trump Administration Has Been Extremely Successful in Its Key Economic Goal of Transferring a Substantial Amount of Wealth From California and From Many Other US States to Texas Oil & Gas Companies and Their Economic Beneficiaries. That is Really Not Much of a Legacy In Which To Be Proud.
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On the Other Hand, the Two Largest Washington State Techs (Microsoft and Amazon) Both Had Substantial US GAAP Pretax Income (PTI) Growth Acceleration in the June 2018 Quarter Where Their Total PTI Was $13.288 Bil, Up 54% Over Their June 2017 Quarter Total PTI of $8.622 Bil, as Compared to Their Total PTI in the March 2018 Quarter Which Increased By a Much Lower 31% Over That in Their March 2017 Quarter ........................................................................................
From a review of SEC filings, the below chart shows the US GAAP Pretax Income (Loss) From Continuing Operations and the US GAAP After-Tax Net Income (Loss) From Continuing Operations for the June 2018, the June 2017, the March 2018 and the March 2017 Quarters for the 6 Largest US Technology Cos With June Quarter Ends and which have reported their June 2018 Quarter Earnings By July 26, 2018. All 6 had Stock Market Caps of more than $200 Bil in April 2018. Apple is not included below since it hasn't yet reported its June 2018 quarterly earnings.
|
US |
US |
|
|
US |
US |
|
|
US |
US |
|
|
US |
US |
|
|
GAAP |
GAAP |
|
|
GAAP |
GAAP |
|
|
GAAP |
GAAP |
|
|
GAAP |
GAAP |
|
| Lasrgest US Technology Cos |
Pretax |
Pretax |
|
|
Net |
Net |
|
|
Pretax |
Pretax |
|
|
Net |
Net |
|
| Other Than Apple Which |
Income |
Income |
% |
|
Income |
Income |
% |
|
Income |
Income |
% |
|
Income |
Income |
% |
| Hasn't Reported June 2018 |
(Loss) |
(Loss) |
Change |
|
(Loss) |
(Loss) |
Change |
|
(Loss) |
(Loss) |
Change |
|
(Loss) |
(Loss) |
Change |
| Quarter Earnings Yet |
June Qtr |
June Qtr |
Better |
|
June Qtr |
June Qtr |
Better |
|
March Qtr |
March Qtr |
Better |
|
March Qtr |
March Qtr |
Better |
| Market Caps Above $200 Bil |
2018 |
2017 |
(Worse) |
|
2018 |
2017 |
(Worse) |
|
2018 |
2017 |
(Worse) |
|
2018 |
2017 |
(Worse) |
|
mils $ |
mils $ |
|
|
mils $ |
mils $ |
|
|
mils $ |
mils $ |
|
|
mils $ |
mils $ |
|
| California Largest Tech Cos |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Facebook |
5,868 |
4,488 |
31% |
|
5,106 |
3,894 |
31% |
|
5,610 |
3,408 |
65% |
|
4,988 |
3,064 |
63% |
| Intel |
5,529 |
4,572 |
21% |
|
5,006 |
2,808 |
78% |
|
5,011 |
3,815 |
31% |
|
4,454 |
2,964 |
50% |
| Alphabet |
4,215 |
4,377 |
-4% |
|
3,195 |
3,524 |
-9% |
|
10,543 |
6,819 |
55% |
|
9,401 |
5,426 |
73% |
| Visa |
2,812 |
2,914 |
-4% |
|
2,329 |
2,059 |
13% |
|
3,217 |
2,702 |
19% |
|
2,605 |
430 |
506% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total 4 California Cos |
18,424 |
16,351 |
13% |
|
15,636 |
12,285 |
27% |
|
24,381 |
16,744 |
46% |
|
21,448 |
11,884 |
80% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Washington Largest Tech Cos |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Microsoft |
10,680 |
7,958 |
34% |
|
8,873 |
8,069 |
10% |
|
8,641 |
7,094 |
22% |
|
7,424 |
5,486 |
35% |
| Amazon.com |
2,608 |
664 |
293% |
|
2,534 |
197 |
1186% |
|
1,916 |
953 |
101% |
|
1,629 |
724 |
125% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total 2 Washington State Cos |
13,288 |
8,622 |
54% |
|
11,407 |
8,266 |
38% |
|
10,557 |
8,047 |
31% |
|
9,053 |
6,210 |
46% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total 6 Largest US Tech Cos |
31,712 |
24,973 |
27% |
|
27,043 |
20,551 |
32% |
|
34,938 |
24,791 |
41% |
|
30,501 |
18,094 |
69% |
