"We Won't Make Money On A Per Unit Basis" -- Ford Executive -- January 30, 2023

Updates

Later, 1:25 p.m. CT: It's all about margins. 

Original Post

Price wars begin (wow, that was fast): https://twitter.com/GuyDealership/status/1620057370603945986.

This speaks volumes about the future of EVs:

From The WSJ today:

************************
15,0000 To Choose From 

From yesterday:

When there are 15,000 publicly traded companies from which to choose, it boggles my mind why one would chose an oil company drilling in California (CRC). It's the same thought I have regarding PFE: when there are 15,000 publicly traded companies from which to choose, it boggles my mind why one would chose one with a public relations lightning rod.

Now this, today:

The bulk of S&P 500 companies this week will report their fourth-quarter and full 2022 results. And five of them, including Apple, Alphabet and Exxon Mobil, will wind up making even more than Chevron's historic haul.

In fact, Apple is seen making more than $96 billion in 2022 — or 163% more than Chevron.

... among those companies that actually reported, Chevron is a standout so far. Its adjusted net income of $36.5 billion, or $18.83 a share, is the second-largest annual profit that's actually on the books. It's only second to Microsoft, which reported a $67.4 billion adjusted profit in 2022, or $9 a share. And Chevron's profit outstripped the $35.9 billion profit of JPMorgan Chase (JPM) last year.

But don't think you've seen peak S&P 500 profit. Most of the giants are still due to share their results.If you want to see mind boggling profit, just wait until February 2, 2023. That's when gadget maker Apple is due to report its calendar 2022 results. And they're going to be supersize.

Analysts currently think Apple will make a 2022 profit of $96 billion. That would easily make it the most profitable company in the S&P 500 again in 2022, topping Microsoft's bottom line by 42%.

And with a profit base like that, Apple is by far the largest buyer of its own stock. In the past 12 months ended September (the latest data available), Apple bought back $95.6 billion of its own stock. That's way more than any other S&P 500 company bought its own stock, including No. 2 Alphabet at $57.4 billion. It's also more than the $75 billion of stock Chevron says it's buying back.

Even so, S&P 500 investors are disappointed with Apple's profits. On a per share basis, its 2022 calendar profit is seen falling roughly 1% from 2021. That's why the shares are off 8% in a year's time. With that said, Apple's profit is seen jumping another 6% in 2023.

So much more at the link. 

Great buying opportunities. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.