Thursday, January 17, 2019

All 99 US Technology Cos With Stock Market Caps Above $10 Bil Posted Huge Total Pretax Earnings Growth Deceleration During 2018

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These US Technology Cos Total Pretax Income Grew By an Exceptional 36% in the First Quarter of 2018 Over the First Quarter of 2017

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These Same US Technology Cos Total Pretax Income Grew By a Very Robust But Decelerated 30% in the Second Quarter of 2018 Over the Second Quarter of 2017

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These Same US Technology Cos Total Pretax Income Grew By a Robust But Even More Decelerated 23% in the Third Quarter of 2018 Over the Third Quarter of 2017

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And Given How the World Economy is Slowing Down, Coupled With the Continued and Even Accelerating Diminished Status of the US in the Past Two Years in Many Parts of the World,  These Same US Technology Cos Huge Total Pretax Income Growth Deceleration Should Continue Unabated in the Current Fourth Quarter of 2018 vs the Fourth Quarter of 2017

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From a review of US SEC filings, the chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Calendar September 2018 and 2017 Quarter Ends (September, October and November), for the Calendar June 2018 and 2017 Quarter Ends (June, July and August) and for the Calendar March 2018 and 2017 Quarter Ends (March, April and May) for the 99 US Technology Companies which had stock markets caps of above $10 Bil sometime in 2018.
US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax
Income Income Income Income Income Income
(Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Sept Sept June June Mar Mar
Oct Oct July July Apr Apr
or Nov or Nov Better or Aug or Aug Better or May or May Better
US 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse)
State US Technology Companies Quarter Quarter % Quarter Quarter % Quarter Quarter %
HQs Stock Market Caps Above $10 Bil End End  Change End End  Change End End  Change
mils $ mils $ mils $ mils $ mils $ mils $
CA Apple       16,421       13,917 18%       13,284       11,308 17%       16,168       14,684 10%
WA Microsoft       10,221         7,984 28%       10,680         7,958 34%         8,641         7,094 22%
CA Alphabet       10,083         7,979 26%         4,215         4,377 -4%       10,543         6,819 55%
CA Intel         7,142         5,930 20%         5,529         4,572 21%         5,011         3,815 31%
CA Facebook         5,912         5,236 13%         5,868         4,488 31%         5,610         3,408 65%
CA Cisco Systems         3,909         2,962 32%         3,592         3,180 13%         3,253         3,191 2%
ID Micron Technology         3,773         2,792 35%         4,346         2,322 87%         3,714         1,739 114%
CA Visa         3,538         3,099 14%         2,812         2,914 -4%         3,217         2,702 19%
WA Amazon.com         3,391            314 980%         2,608            664 293%         1,916            953 101%
NY International Business Machines         2,996         3,065 -2%         2,776         2,443 14%         1,136         1,424 -20%
CA Oracle         2,774         2,826 -2%         2,540         2,500 2%         4,141         3,760 10%
NY Mastercard         2,264         1,932 17%         1,922         1,628 18%         1,803         1,478 22%
CT Booking Holdings         2,241         2,067 8%         1,209            863 40%            753            528 43%
TX Texas Instruments         1,924         1,789 8%         1,706         1,486 15%         1,553         1,255 24%
CA Broadcom Ltd         1,422            645 120%         1,229            548 124%         1,099            365 201%
CA NVIDIA         1,081            896 21%         1,180            684 73%         1,311            536 145%
CA HP Inc         1,007            848 19%         1,018            899 13%              83            754 -89%
CA Applied Materials            998         1,074 -7%         1,239            978 27%         1,295            908 43%
CA eBay            948            694 37%            707            462 53%            547            558 -2%
CA Adobe Systems            699            643 9%            701            541 30%            691            493 40%
NJ Cognizant Technology            662            658 1%            624            635 -2%            697            649 7%
WA Expedia            612            415 47%             (14)              57 -125%           (169)           (131) NM
CA Lam Research            591            688 -14%            958            603 59%            772            531 45%
CA Western Digital            583            710 -18%            729            415 76%           (128)            304 NM
CA Hewlett Packard Enterprises            576           (301) NM            465            125 272%           (116)            113 NM
CA PayPal Holdings            533            451 18%            609            447 36%            548            438 25%
NY First Data Corp            502            234 115%            365            271 35%            161              91 77%
CA Seagate Technology            468            188 149%            466            120 288%            393            212 85%
MA Analog Devices            458            382 20%            441            127 247%            402              87 362%
CA KLA-Tencor            428            336 27%            406            325 25%            366            319 15%
CA Netflix            379            116 227%            429              14 2964%            300            224 34%
CA VMWare            345            413 -16%            772            494 56%         1,175            281 318%
MA Skyworks Solutions            343            348 -1%            311            307 1%            292            281 4%
VA DXC Technology            332            284 17%            360              91 296%            661           (187) NM
CA NetApp            293            222 32%            272            145 88%            303            248 22%
CA Electronic Arts            276             (38) NM            319            749 -57%            754            716 5%
IL Motorola Solutions            270            286 -6%            227            205 11%            140            120 17%
CA Check Point Software            243            237 3%            240            233 3%            228            221 3%
CA Xilinx            239            194 23%            213            171 25%            186            171 9%
IL CDW Corp            238            207 15%            230            195 18%            166              75 121%
CA Maxim Integrated Products            234            181 29%            224            196 14%            222            170 31%
AZ ON Semiconductor            216            168 29%            193            143 35%            157            115 37%
NJ Verisk Analytics            193            181 7%            185            170 9%            162            161 1%
CA Arista Networks            189            142 33%            163            117 39%            143              74 93%
VA Verisign            178            150 19%            165            160 3%            152            148 3%
VA Leidos Holding            170            116 47%            165            135 22%            125            108 16%
FL Citrix Systems            159            134 19%            131            114 15%            151            120 26%
WA F5 Networks            159            154 3%            154            142 8%            146            140 4%
NY IAC/Interactive            153             (54) NM            312              61 411%              59                5 1080%
CA Juniper Networks            152            226 -33%            151            245 -38%              41            141 -71%
NY CA Technologies            148            258 -43%              82            238 -66%            243            198 23%
MA IPG Photonics            128            161 -20%            164            142 15%            142            101 41%
CA Salesforce.com            128            146 -12%            231              63 267%            385             (10) NM
TX Match Group            122              62 97%            143              54 165%              87              34 156%
CA Activision Blizzard            121            220 -45%            408            293 39%            567            453 25%
CT SS&C Technologies            118              75 57%           (164)              62 -365%              62              58 7%
CA Advanced Micro Devices            114              83 37%            122             (39) NM              89             (28) NM
NC Red Hat            112            116 -3%            135            132 2%            111              87 28%
MA Akamai Technologies            111              92 21%              52              86 -40%              68            105 -35%
MO Jack Henry & Associates            104              97 7%            108              99 9%              96              88 9%
CA Cadence Design Systems            100              87 15%              90              77 17%              78              74 5%
PA Ansys              95            108 -12%            110            100 10%              97              86 13%
CO IHS Markit Ltd              92              97 -5%            111            110 1%            126              98 29%
CO Qurate Retail              88              45 96%            223            250 -11%            285            272 5%
CA Twitter              87             (18) NM              66           (113) NM              64             (58) NM
DC CoStar Group              73              55 33%              46              26 77%              56              35 60%
CA Fortinet              71              38 87%              51              33 55%              37                8 363%
CA Veeva Systems              68              44 55%              56              41 37%              46              39 18%
MO Amdocs Ltd              65            130 -50%            102            131 -22%            132            133 -1%
CA Synopsys              52            100 -48%              72            113 -36%            119              62 92%
NC Qorvo              33              36 -8%             (62)             (40) NM             (44)             (37) NM
NY ANGI Homeservices              32           (113) NM              21               (4) NM             (13)                0 NM
NY Take-Two Interactive              31             (14) NM              77              47 64%              91            111 -18%
CA Symantec              28             (69) NM             (73)           (134) NM             (61)           (248) NM
IL GrubHub              22              17 29%              34              22 55%              31              25 24%
CA Square Inc              21             (17) NM               (5)             (15) NM             (24)             (15) NM
FL Ultimate Software Group              17              14 21%              21                7 200%              22                3 633%
AZ GoDaddy              13                4 225%              19              19 0%                4               (2) NM
CA AutoDesk              12           (111) NM             (23)           (126) NM             (64)           (121) NM
CA ServiceNow                7             (20) NM             (41)             (58) NM               (7)             (23) NM
MA PTC Inc                1                5 -80%              10                1 900%              12               (1) NM
CA Dropbox               (6)             (14) NM               (3)             (26) NM           (464)             (33) NM
WA Tableau Software             (11)             (45) NM             (14)             (41) NM             (49)             (52) -6%
CA Intuit             (14)             (37) NM             (74)             (10) NM         1,617         1,439 12%
WA Zillow Group             (15)                9 NM             (14)             (22) NM             (16)               (5) NM
CA Twilio             (27)             (23) NM             (24)               (7) NM             (24)             (14) NM
AZ Microchip Technology             (39)            186 NM              38            166 -77%            188              72 161%
CA Palo Alto Networks             (42)             (55) NM                8             (31) NM             (50)             (53) NM
CA Marvell Technology             (44)            156 NM             (23)            132 NM            132            105 26%
CA Splunk             (54)             (30) NM           (103)             (78) NM           (120)           (114) NM
CA DocuSign             (59)             (14) NM             (35)             (12) NM           (270)             (20) NM
AZ Carvana             (64)             (40) NM             (51)             (39) NM             (53)             (38) NM
CA Nutanix             (98)             (59) NM             (65)             (83) NM             (87)             (94) NM
MA Wayfair           (151)             (76) NM           (100)             (39) NM           (108)             (56) NM
CA Workday           (156)             (84) NM             (87)             (81) NM             (75)             (62) NM
CA Atlassian Corp           (240)             (20) NM             (22)             (32) NM               (8)             (23) NM
CA Snap           (325)           (455) NM           (352)           (443) NM           (384)        (2,212) NM
CA QUALCOMM           (775)            434 NM            956            858 11%            358            857 -58%
TX Dell Technologies           (995)        (1,092) NM           (468)        (1,210) NM           (623)        (1,844) -66%
Total all 99 US Technology Cos       92,017       74,589 23%       81,179       62,645 30%       83,775       61,788 36%




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