As a headline, it isn’t much: Top-level technology companies rebounded from the early days of the pandemic in record-setting fashion, growing their value by the trillions.
Sure, your 401K probably saw some nice gains, too, but CNBC decided to throw a wet blanket on the progress of everyday individual investors.
The recent quarterly earnings reports from Amazon, Apple, Alphabet, Microsoft, Facebook, Tesla and Netflix filed with the Securities and Exchange Commission broke down the per-minute earnings during the first three months of 2021.
This data can be eye-opening – or disturbing, depending on your state of mind.
(There were 90 days, and 129,600 minutes, in the first quarter of 2021.)
Amazon: $837,330.25 revenue per minute in 2021’s first quarter
Apple: $691,234.57 per minute
Alphabet: $426,805.56 per minute
Microsoft: $321,805.56 per minute
Facebook: $201,936.73 per minute
Tesla: $80,162.04 per minute
Netflix: $55,270.06 per minute
And now, just you don’t think the revenue stream is an ever-growing, one-way flood of profit: The per-minute average among these companies, $373,606, was LESS than in the prior quarter reported (that number was $416,768, as reported by business data website Visual Capitalist in a March graphic).
Apple and Amazon, however, posted record revenues in their final quarters of 2020, topping $100 billion.
Apple also has the largest market value of any company in the world, at more than $2.2 trillion, as of Friday. Amazon has a market value of $1.76 trillion.
Tesla CEO Elon Musk is continuing the personal battle for No. 1 on the world’s most-wealthy-people list. Musk topped Amazon’s Jeff Bezos in January but his net worth is now $175 billion, second to Bezos’ $202 billion, according to Bloomberg.
We hope he’s going to be OK.