Apple reported a record-breaking $111.4 billion in revenue in its first-quarter earnings report. It’s the first time Apple earned more than $100 billion mark in a single quarter, with sales up 21% year over year, according to CNBC.
Apple CEO Tim Cook said told CNBC that revenue would have been bigger had the pandemic not closed some Apple stores.
Cook cited iPhone 12 models and the need for Macs and iPads for remote work and school as major drivers of the company's historic gains.
Related: 5 Things You Don't Know About Apple CEO Tim Cook
Apple Makes $100 Billion in a Single Quarter
Apple is Facing a 60 Million Euro Lawsuit for Programmed Obsolescence in the iPhone 6
Apple enfrenta demanda por 1,400 millones de pesos, acusan obsolescencia programada del iPhone 6
20 "Past Their Prime" Stocks to Dump From Your Portfolio
Did you know the S&P 500 as we know it today does not look anything close to what it looked like 30 years ago? In 1987, IBM, Exxon, GE, Shell, AT&T, Merck, Du Pont, Philip Morris, Ford, and GM had the largest market caps on the S&P 500. ExxonMobil is the only company on that list to remain in the top 10 in 2017. Even 15 years ago, companies like Radio Shack, AOL, Yahoo, and Blockbuster were an important part of the S&P 500. Now, these companies no longer exist as public companies.
As the years go by, some companies lose their luster, and others rise to the top of the markets. We've already seen this in the last few decades, with tech companies surpassing industrial and energy companies that once dominated the S&P 500. It's hard to know what the next mega-trend will be that will knock Apple, Google, and Amazon off the top rankings of the S&P 500, but we know that companies won't stay on the S&P 500 forever.
We've identified 20 companies that are past their prime. They aren't at risk of a near-term delisting from the S&P 500, but they show negative earnings growth for the next several years. If you own any of these stocks, consider selling them now before they become the next Yahoo, Radio Shack, Blockbuster, AOL and are sold off for a fraction of their former value.
View the "20 "Past Their Prime" Stocks to Dump From Your Portfolio".