Of those 193 Total Companies, 98 of them were Technology Companies which generated Audited Total Pretax Income From Continuing Operations in Fiscal Year Ended (FYE) 2017 of $204.7 Bil, a huge 74% of Total PTI for all 193 Companies, and Up 22% from that in FYE 2016 of $167.5 Bil. On first glance, that seems Really Good ..... But there are some qualifiers .....
Of the 98 Technology Companies, 55 or more than half of them were Software and Services Companies which generated Audited Total Pretax Income From Continuing Operations in Fiscal Year Ended (FYE) 2017 of $83.2 Bil, Up 30% from that in FYE 2016 of $63.8 Bil. This seems Really Good, especially since Software and Services Revenues tend to more recurring than are manufacturing revenues.
The Giant Apple's PTI Growth in FYE 2017 was only 4% ..... That's not so good, but hopefully it will pick up some in the future, especially with its at least somewhat growing service revenue mix.
Of the 98 Technology Companies, 22 of them were Semiconductor Companies which generated Audited Total Pretax Income From Continuing Operations in Fiscal Year Ended (FYE) 2017 of $31.3 Bil, Up a Blistering 85% from that in FYE 2016 of $16.9 Bil. This is Outstanding, but the risk is that such high PTI growth as 85% cannot continue for very long, or even at all.
And of the 98 Technology Cos, 30 of them were Other Manufacturing Cos which generated Audited Total Pretax Income From Continuing Operations in Fiscal Year Ended (FYE) 2017 which was precisely flat from that in FYE 2016. This is clearly Not Good and this group contains some struggling Technology Companies.
Of the 193 Total Companies, 2 of them are Oil & Gas-Related Companies, including the Giant Chevron, whose PTI in FYE 2017 increased by a massive $11.4 Bil or by an Off-the-Charts 527% from that in the FYE 2016. That earnings growth is fantastic but it can't continue at that level and also these high oil & gas prices are putting a lot of financial pressure on the margins of many companies and on many consumers all over the US.
And lastly, there were 93 Companies in numerous Sectors other than Technology and Oil & Gas, and they generated Audited Total Pretax Income From Continuing Operations in Fiscal Year Ended (FYE) 2017 of $61.8 Bil, down sharply by 17% from that in FYE 2016 of $74.2 Bil. Especially troubling here were the Health Care Companies and, to a somewhat lesser degree, the Financial Companies. Overall, an Ugly operating performance by Companies in this category.
From a review of SEC filings, the chart below shows the Audited Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Years Ended 2017 and 2016 for these 193 California San Fran/Silicon Valley Area Companies.
| Year | Year | |||||
| 2017 | 2016 | |||||
| Audited | Audited | |||||
| Pretax | Pretax | |||||
| Income | Income | |||||
| (Loss) | (Loss) | |||||
| From | From | |||||
| San Fran Area/Silicon Valley Companies | City | State | 2017 | Continuing | Continuing | Better |
| Stock Market Caps Above $1 Bil | HQs | HQs | FYE | Operations | Operations | (Worse) |
| $ mils | $ mils | % | ||||
| Technology Companies | ||||||
| Software and Services | ||||||
| Alphabet (Google) | Mountain View | CA | Dec 17 | 27,193 | 24,150 | 13% |
| Menlo Park | CA | Dec 17 | 20,594 | 12,518 | 65% | |
| Oracle | Redwood City | CA | May 18 | 12,891 | 11,517 | 12% |
| Visa | San Francisco | CA | Sep 17 | 11,694 | 8,012 | 46% |
| eBay Inc | San Jose | CA | Dec 17 | 2,276 | 3,651 | -38% |
| PayPal Holdings | San Jose | CA | Dec 17 | 2,200 | 1,631 | 35% |
| Adobe Systems | San Jose | CA | Nov 17 | 2,138 | 1,435 | 49% |
| VMware | Palo Alto | CA | Jan 18 | 1,801 | 1,473 | 22% |
| Electronic Arts | Redwood City | CA | Mar 18 | 1,449 | 1,210 | 20% |
| Intuit | Mountain View | CA | Jul 17 | 1,367 | 1,203 | 14% |
| Check Point Software | San Carlos | CA | Dec 17 | 971 | 897 | 8% |
| Netflix | Los Gatos | CA | Dec 17 | 485 | 261 | 86% |
| Symantec | Mountain View | CA | Mar 18 | 441 | (262) | 268% |
| Synopsys | Mountain View | CA | Oct 17 | 383 | 330 | 16% |
| Cadence Design Systems | San Jose | CA | Dec 17 | 315 | 237 | 33% |
| Salesforce.com | San Francisco | CA | Jan 18 | 202 | 25 | 708% |
| Yelp Inc | San Francisco | CA | Dec 17 | 184 | (3) | NM |
| Veeva Systems | Pleasanton | CA | Jan 18 | 159 | 110 | 45% |
| Fair Isaac Corp | San Jose | CA | Sep 17 | 151 | 145 | 4% |
| Financial Engines Inc | Sunnyvale | CA | Dec 17 | 87 | 49 | 78% |
| Ellie Mae Inc | Pleasanton | CA | Dec 17 | 45 | 57 | -21% |
| Qualys Inc | Redwood Shores | CA | Dec 17 | 39 | 30 | 30% |
| Zynga Inc | San Francisco | CA | Dec 17 | 38 | (105) | 136% |
| Guideware Software | Foster City | CA | Jul 17 | 33 | 21 | 57% |
| Imperva | Redwood Shores | CA | Dec 17 | 23 | (69) | 133% |
| Five9 | San Ramon | CA | Dec 17 | (9) | (12) | |
| Quotient Technology Inc | Mountain View | CA | Dec 17 | (16) | (19) | |
| Chegg Inc | Santa Clara | CA | Dec 17 | (18) | (41) | |
| Callidus Software Inc | Dublin | CA | Dec 17 | (20) | (18) | |
| RingCentral Inc | Belmont | CA | Dec 17 | (26) | (29) | |
| Talend SA | Redwood City | CA | Dec 17 | (31) | (24) | |
| 8X8 Inc | San Jose | CA | Mar 18 | (38) | (5) | |
| Coupa Software | San Mateo | CA | Jan 18 | (42) | (37) | |
| New Relic | San Francisco | CA | Mar 18 | (44) | (61) | |
| Zuora | San Mateo | CA | Jan 18 | (46) | (39) | |
| DocuSign | San Francisco | CA | Jan 18 | (49) | (115) | |
| Square | San Francisco | CA | Dec 17 | (63) | (170) | |
| Twilio | San Francisco | CA | Dec 17 | (63) | (41) | |
| Roku | Saratoga | CA | Dec 17 | (63) | (43) | |
| Atlassian Corporation PLC | San Francisco | CA | Jun 18 | (66) | (60) | |
| Proofpoint | Sunnyvale | CA | Dec 17 | (94) | (110) | |
| San Francisco | CA | Dec 17 | (95) | (441) | ||
| Dropbox | San Francisco | CA | Dec 17 | (112) | (205) | |
| Zendesk | San Francisco | CA | Dec 17 | (112) | (103) | |
| Okta | San Francisco | CA | Jan 18 | (115) | (83) | |
| ServiceNow | Santa Clara | CA | Dec 17 | (149) | (450) | |
| LendingClub Corp | San Francisco | CA | Dec 17 | (153) | (150) | |
| Box Inc | Redwood City | CA | Jan 18 | (154) | (151) | |
| Pivotal Software | Palo Alto | CA | Jan 18 | (166) | (230) | |
| Hortonworks | Santa Clara | CA | Dec 17 | (202) | (250) | |
| Splunk | San Francisco | CA | Jan 18 | (258) | (350) | |
| Workday | Pleasanton | CA | Jan 18 | (315) | (386) | |
| Cloudera | Palo Alto | CA | Jan 18 | (384) | (185) | |
| Pandora Media | Oakland | CA | Dec 17 | (519) | (343) | |
| Autodesk | San Rafael | CA | Jan 18 | (557) | (524) | |
| Total all 55 Software and Services Cos | 83,180 | 63,848 | 30% | |||
| Apple | Cupertino | CA | Sep 17 | 64,089 | 61,372 | 4% |
| Semiconductors | ||||||
| Intel | Santa Clara | CA | Dec 17 | 20,352 | 12,936 | 57% |
| Applied Materials | Santa Clara | CA | Oct 17 | 3,731 | 2,013 | 85% |
| NVIDIA Corp | Santa Clara | CA | Jan 18 | 3,196 | 1,905 | 68% |
| Broadcom Ltd | San Jose | CA | Oct 17 | 1,825 | (1,107) | 265% |
| Maxim Integrated Products | San Jose | CA | Jun 18 | 825 | 680 | 21% |
| Xilinx | San Jose | CA | Mar 18 | 750 | 691 | 9% |
| Marvell Technology Group | Santa Clara | CA | Jan 18 | 451 | 147 | 207% |
| Integrated Device Technology | San Jose | CA | Mar 18 | 92 | 99 | -7% |
| Monolithic Power Systems | San Jose | CA | Dec 17 | 83 | 57 | 46% |
| Oclaro | San Jose | CA | Jun 18 | 75 | 103 | -27% |
| Advanced Micro Devices | Sunnyvale | CA | Dec 17 | 62 | (458) | 114% |
| Power Integrations Inc | San Jose | CA | Dec 17 | 60 | 50 | 20% |
| Rambus Inc | Sunnyvale | CA | Dec 17 | 41 | 23 | 78% |
| OSI Systems | Hawthorne | CA | Jun 18 | 37 | 26 | 42% |
| Ambarella | Santa Clara | CA | Jan 18 | 26 | 61 | -57% |
| Cypress Semiconductor | San Jose | CA | Dec 17 | 2 | (664) | 100% |
| Finisar Corp | Sunnyvale | CA | Apr 18 | (15) | 163 | |
| Mellanox Technologies Ltd | Sunnyvale | CA | Dec 17 | (22) | 24 | |
| Viavi Solutions Inc | Milpitas | CA | Jun 18 | (33) | 187 | |
| Synaptics Inc | San Jose | CA | Jun 18 | (84) | 61 | |
| Cavium Inc | San Jose | CA | Dec 17 | (86) | (146) | |
| Inphi Corp | Sunnyvale | CA | Dec 17 | (96) | 11 | |
| Total all 22 Semiconductor Cos | 31,272 | 16,862 | 85% | |||
| Other Technology Manufacturing Cos | ||||||
| Cisco Systems | San Jose | CA | Jul 17 | 12,287 | 12,920 | -5% |
| HP Inc | Palo Alto | CA | Oct 17 | 3,276 | 3,761 | -13% |
| Lam Research | Fremont | CA | Jun 18 | 3,152 | 1,812 | 74% |
| Western Digital | San Jose | CA | Jun 18 | 2,085 | 769 | 171% |
| KLA-Tencor | Milpitas | CA | Jun 18 | 1,456 | 1,173 | 24% |
| Seagate Technology | Cupertino | CA | Jun 18 | 1,418 | 815 | 74% |
| NetApp | Sunnyvale | CA | Apr 18 | 1,166 | 665 | 75% |
| Juniper Networks | Sunnyvale | CA | Dec 17 | 812 | 827 | -2% |
| Arista Networks Inc | Santa Clara | CA | Dec 17 | 475 | 242 | 96% |
| Coherent inc | Santa Clara | CA | Sep 17 | 302 | 123 | 146% |
| Hewlett Packard Enterprise | Palo Alto | CA | Oct 17 | 272 | 3,860 | -93% |
| Logitech Intl SA | Newark | CA | Mar 18 | 232 | 215 | 8% |
| Fortinet | Sunnyvale | CA | Dec 17 | 124 | 43 | 188% |
| Electronics For Imaging | Fremont | CA | Dec 17 | 12 | 39 | -69% |
| Omnicell Inc | Mountain View | CA | Dec 17 | (1) | (2) | |
| ForeScout Technologies | San Jose | CA | Dec 17 | (89) | (74) | |
| Pure Storage | Mountain View | CA | Jan 18 | (174) | (243) | |
| Palo Alto Networks | Santa Clara | CA | Jul 17 | (194) | (172) | |
| Fitbit | San Francisco | CA | Dec 17 | (195) | (109) | |
| FireEye | Milpitas | CA | Dec 17 | (299) | (489) | |
| Total all 20 Other Technology Manufacturing Cos | 26,117 | 26,175 | 0% | |||
| Total all 98 Technology Companies | 204,658 | 168,257 | 22% | |||
| Oil & Gas Companies | ||||||
| Chevron | San Ramon | CA | Dec 17 | 9,221 | (2,160) | 527% |
| United States Oil Fund LP | Oakland | CA | Dec 17 | 79 | 667 | |
| Total 2 Oil & Gas Companies | 9,300 | (1,493) | 723% | |||
| All Cos But Technology and Oil & Gas Cos | ||||||
| Wells Fargo | San Francisco | CA | Dec 17 | 27,377 | 32,120 | -15% |
| Gilead Sciences | Foster City | CA | Dec 17 | 13,529 | 17,097 | -21% |
| Charles Schwab | San Francisco | CA | Dec 17 | 3,650 | 2,993 | 22% |
| Franklin Resources | San Mateo | CA | Sep 17 | 2,549 | 2,500 | 2% |
| PG&E Corp | San Francisco | CA | Dec 17 | 2,171 | 1,462 | 48% |
| Ross Stores | Dublin | CA | Jan 18 | 2,041 | 1,786 | 14% |
| Prologis | San Francisco | CA | Dec 17 | 1,816 | 1,347 | 35% |
| The Gap | San Francisco | CA | Jan 18 | 1,424 | 1,124 | 27% |
| Intuitive Surgical | Sunnyvale | CA | Dec 17 | 1,097 | 981 | 12% |
| Clorox | Oakland | CA | Jun 18 | 1,054 | 1,033 | 2% |
| First Republic Bank | San Francisco | CA | Dec 17 | 912 | 828 | 10% |
| SVB Financial Group | Santa Clara | CA | Dec 17 | 875 | 641 | 37% |
| Agilent Technologies | Santa Clara | CA | Oct 17 | 803 | 544 | 48% |
| Flex Ltd | San Jose | CA | Mar 18 | 521 | 371 | 40% |
| Robert Half Intl | Menlo Park | CA | Dec 17 | 518 | 554 | -6% |
| Essex Property Trust | San Mateo | CA | Dec 17 | 458 | 443 | 3% |
| Williams-Sonoma | San Francisco | CA | Jan 18 | 452 | 472 | -4% |
| Jazz Pharmaceuticals plc | Palo Alto | CA | Dec 17 | 440 | 532 | -17% |
| Cooper Companies | Pleasanton | CA | Oct 17 | 394 | 296 | 33% |
| Align Technology | San Jose | CA | Dec 17 | 368 | 244 | 51% |
| Varian Medical Systems | Palo Alto | CA | Sep 17 | 345 | 441 | -22% |
| Ubiquiti Networks Inc | San Jose | CA | Jun 18 | 314 | 285 | 10% |
| Equinix | Redwood City | CA | Dec 17 | 287 | 160 | 79% |
| Digital Realty Trust | San Francisco | CA | Dec 17 | 264 | 442 | -40% |
| Trimble Navigation Ltd | Sunnyvale | CA | Dec 17 | 259 | 177 | 46% |
| DLB Laboratories | San Francisco | CA | Sep 17 | 257 | 236 | 9% |
| McKesson | San Francisco | CA | Mar 18 | 239 | 6,891 | -97% |
| Sanmina Corp | San Jose | CA | Sep 18 | 213 | 205 | 4% |
| TriNet Group Inc | San Leandro | CA | Dec 17 | 200 | 104 | 92% |
| Keysight Technologies Inc | Santa Rosa | CA | Oct 17 | 179 | 366 | -51% |
| Corporate Capital Trust | San Francisco | CA | Dec 17 | 177 | 244 | -27% |
| Exelixis Inc | Alameda | CA | Dec 17 | 159 | (70) | 327% |
| Redwood Trust Inc | Mill Valley | CA | Dec 17 | 152 | 135 | 13% |
| Simpson Manufacturing | Pleasanton | CA | Dec 17 | 144 | 139 | 4% |
| Innoviva | Brisbane | CA | Dec 17 | 134 | 60 | 123% |
| Lumentum Holdings | Milpitas | CA | Jun 18 | 129 | (60) | 315% |
| Central Garden & Pet Co | Walnut Creek | CA | Sep 17 | 126 | 70 | 80% |
| SYNNEX Corp | Fremont | CA | Nov 17 | 465 | 356 | 31% |
| Granite Construction | Watsonville | CA | Dec 17 | 104 | 96 | 8% |
| California Water Service Group | San Jose | CA | Dec 17 | 101 | 76 | 33% |
| Bio-Rad Laboratories | Hercules | CA | Dec 17 | 98 | 42 | 133% |
| SJW Group | San Jose | CA | Dec 17 | 96 | 86 | 12% |
| TPG Real Estate Finance Trust | San Francisco | CA | Dec 17 | 94 | 70 | 34% |
| NetGear | San Jose | CA | Dec 17 | 91 | 115 | -21% |
| Westamerica Bancorporation | San Rafael | CA | Dec 17 | 87 | 80 | 9% |
| Exponent Inc | Menlo Park | CA | Dec 17 | 83 | 69 | 20% |
| McGrath Rent | Livermore | CA | Dec 17 | 83 | 67 | 24% |
| Hercules Capital | Palo Alto | CA | Dec 17 | 79 | 69 | 14% |
| Four Corners Property Trust | Mill Valley | CA | Dec 17 | 72 | 77 | -6% |
| Fox Factory Holding Corp | Scotts Valley | CA | Dec 17 | 64 | 43 | 49% |
| Terreno Realty Corp | San Francisco | CA | Dec 17 | 53 | 15 | 253% |
| Corcept Therapeutics Inc | Menlo Park | CA | Dec 17 | 53 | 8 | 563% |
| NMI Holdings | Emeryville | CA | Dec 17 | 53 | 11 | 382% |
| Abaxis Inc | Union City | CA | Mar 18 | 43 | 51 | -16% |
| Shutterfly Inc | Redwood City | CA | Dec 17 | 35 | 27 | 30% |
| RH | Corte Madera | CA | Jan 18 | 30 | 9 | 233% |
| Core-Mark Holding Co Inc | South San Fran | CA | Dec 17 | 28 | 86 | -67% |
| Arlo Technologies | San Jose | CA | Dec 17 | 8 | (14) | |
| Natus Medical Inc | Pleasanton | CA | Dec 17 | 5 | 55 | |
| Penumbra | Alameda | CA | Dec 17 | 2 | (1) | |
| Genomic Health Inc | Redwood City | CA | Dec 17 | (2) | (13) | |
| 8Point3 Energy Partners LP | San Jose | CA | Nov 17 | (12) | 46 | |
| Allakos | San Carlos | CA | Dec 17 | (24) | (17) | |
| iRhythm Technologies | San Francisco | CA | Dec 17 | (29) | (21) | |
| Nevro Corp | Redwood City | CA | Dec 17 | (35) | (30) | |
| Biomarin Pharmaceutical | Novato | CA | Dec 17 | (36) | (831) | |
| Blackhawk Network Holdings | Pleasanton | CA | Dec 17 | (37) | 1 | |
| Tricida | South San Fran | CA | Dec 17 | (41) | (29) | |
| ARMO BioSciences | Redwood City | CA | Dec 17 | (43) | (34) | |
| CytomX Therapeutics | South San Francisco | CA | Dec 17 | (44) | (59) | |
| MyoKardia | South San Francisco | CA | Dec 17 | (46) | (13) | |
| TiVo Corp | San Jose | CA | Dec 17 | (48) | (24) | |
| Sangamo Therapeutics | Richmond | CA | Dec 17 | (55) | (72) | |
| Pattern Energy Group | San Francisco | CA | Dec 17 | (71) | (44) | |
| Denali Therapeutics | South San Francisco | CA | Dec 17 | (88) | (87) | |
| Iovance Biotherapeutics | San Carlos | CA | Dec 17 | (92) | (53) | |
| Audentes Therapeutics | San Francisco | CA | Dec 17 | (92) | (60) | |
| Nektar Therapeutics | San Francisco | CA | Dec 17 | (96) | (153) | |
| Global Blood Therapeutics | South San Francisco | CA | Dec 17 | (117) | (82) | |
| Atara Biotherapeutics | South San Francisco | CA | Dec 17 | (120) | (79) | |
| FibroGen | San Francisco | CA | Dec 17 | (126) | (62) | |
| Zogenix | Emeryville | CA | Dec 17 | (126) | (70) | |
| Aimmune Therapeutics | Brisbane | CA | Dec 17 | (131) | (81) | |
| VeriFone Systems | San Jose | CA | Oct 17 | (143) | 2 | |
| Infinera Corp | Sunnyvale | CA | Dec 17 | (196) | (29) | |
| Heron Therapeutics | San Francisco | CA | Dec 17 | (197) | (173) | |
| Coherus Biosciences | Redwood City | CA | Dec 17 | (238) | (128) | |
| Sunrun | San Francisco | CA | Dec 17 | (255) | (267) | |
| Theravance Biopharma Inc | South San Fran | CA | Dec 17 | (272) | (181) | |
| Portola Pharmaceuticals | South San Francisco | CA | Dec 17 | (287) | (268) | |
| Ultragenyx Pharmaceuticals | Novato | CA | Dec 17 | (318) | (246) | |
| Impax Laboratories Inc | Hayward | CA | Dec 17 | (451) | (576) | |
| Tesla Motors | Palo Alto | CA | Dec 17 | (2,209) | (746) | |
| Total all 93 Cos but Technology and Oil & Gas Cos | 61,777 | 74,207 | -17% | |||
| All 193 San Fran Area/Silicon Valley Cos | 275,736 | 240,971 | 14% |
