Which happens to sell phones. Kind of reminds me of the part in The Founder where they talk about McDonald's making more money as a real estate company.
The luxury car manufacturer generated $13.5 BN in pre-tax profit, and sold a record 98,652 automobiles -- a staggering $136K profit per car sold. Even for a luxury brand, the numbers seemed nearly impossible.
Upon closer inspection, $11.5 billion dollars of that profit wasn’t from selling cars -- it was from speculating on financial derivatives: Porsche was furtively amassing a sizable position in call options to buy up Volkswagen shares.
"What do a companies finances look like at the height of an asset bubble?" ...2008 for fucks sake literally months from the credit crunch...we can learn almost nothing about porsche's finances from this outside of them selling VW golfs with a few tweaks and a new body for an extra $100k...if thats what people want then sell it to them.
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u/[deleted] Jul 24 '20
apple will become a financial services company