In analyzing U.S. corporate earnings and stock-market trends, apples-to-apples comparisons may now require tossing out the Apple.
Apple Inc.’s success selling consumer gadgets has pushed its share price above $500, cementing its place as the U.S.’s largest company, with a market capitalization of $475 billion. But its gargantuan size is making it difficult for Wall Street to get a big-picture view of the earnings and margins for other American corporations.
As a result, some equity analysts are cutting Apple out of the frame—and finding a dimmer outlook for the broader market.
From WSJ by Jonathan Cheng and Brendan Intindola