- The top technology firms surpassed oil companies in wealth
- Apple beat ExxonMobile with biggest annual profit in history; $53.4bn
- Some say wealth accumulation is causing problems in global economy
- Others feel internet giants should have to pay more taxes on profits
And by far the biggest winner is Apple, taking away 50 per cent of that profit, research shows.
The
findings come from an interactive graph created by Penny Stocks Lab
that displays how much profit and revenue internet giants of the world
accumulate – in real time.
The graph also shows Twitter, Pandora and Yelp are struggling to turn a profit.
Every
second that passes, the revenue and profit numbers change and the graph
specifies how much each firm has made while you have been on the page.
The graphic shows how the four top technology companies have also surpassed their rivals - oil companies.
Apple,
being the leader of the group, trumped ExxonMobile last year in annual
profits, with 'the biggest annual profit in corporate history.
The
firm had record sales for its iPhone last year, which help it generate
$53.4 billion in profits and ExxonMobile only finished the year with
$16.2 billion.
Twitter did
add 4 million new users by its last quarter report and increased revenue
by 58 percent, but it still isn't enough to get them out of the whole.
'Twitter
is a product that has never fully developed into a sustainable public
company due to either poor strategy, poor execution, or that it was
never destined to be one,' Stifel Nicolaus, investment banking firm in
New York, posted on Twitter.
Some
people are starting to raise an eyebrow at the accumulation of wealth
in Silicon Valley and how it may be causing problems for the global
economy.
Paul
Graham, adviser to technology startups, published an essay that defends
startups, as they are creating wealth rather than relying on other
people's handouts.
Graham's essay argues that by destroying economic inequality it would be damaging to the startup world.
The graphic shows how the four top
technology companies have also surpassed their rivals - oil companies.
Apple, being the leader of the group, trumped ExxonMobile last year in
annual profits, with 'the biggest annual profit in corporate history'
'So
when I hear people saying that economic inequality is bad and should be
eliminated, I feel rather like a wild animal overhearing a conversation
between hunters,' Graham writes.
'But the thing that strikes me most about the conversations I overhear is how confused they are.'
'They don't even seem clear whether they want to kill me or not.'
Others feel tech companies should have to dish out more taxes on their profits.
For
example, Apple has $181.1 billion in offshore accounts, according to a
report from Citizens of Tax Justice, which allows them to avoid paying
taxes.
In totally Apple would have owed $59 billion to the US government last year.
Citizens
for Tax Justice concluded: 'Multinational corporations' use of tax
havens allows them to avoid an estimated $90 billion in federal income
taxes each year.
FURIOUS iPhone users say they have been locked out of their handsets after a mysterious ‘Error 53’ message popped up on screen.The mysterious error message that may destroy your iPhone
Apple claims the error message is designed to protect customers, but thousands of users have complained that their iPhones have been rendered useless and beyond revival.
An official statement from the popular technology company said: “We take our customer security very seriously and Error 53 is the result of security checks designed to protect our customers.
“iOS checks that the Touch ID sensor in your iPhone or iPad correctly matches your device’s other components.
“If iOS finds a mismatch, the check fails and Touch ID, including for Apple Pay use, is disabled.
“This security measure is necessary to protect your device and prevent a fraudulent Touch ID sensor from being used.”
The statement continued: “If a customer encounters Error 53, we encourage them to contact Apple Support.”
If devices have undergone repairs by third party repairs to components like the home button or the screen, the error 53 message can have devastating consequences.
An Apple spokeswoman revealed that “faulty screens or other invalid components” can disrupt the unique paring methods involved in the touch ID causing the phone to disable itself for security purposes.
The technical problem has been described as ‘the plague’ as unauthorised repairs void warranties and affected customers flock to Apple stores only to be turned away.
0 comments:
Post a Comment