20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Big techs are among the highly-profitable companies given their strong revenue growth and cost discipline. Tech giant Apple, Inc. (NASDAQ:AAPL) led Fortune 500’s list of the most profitable U.S. corporations in 2021, with an annual profit of $94.7 billion.
What Happened: With the second-quarter reporting season meandering to a close, a tally of quarterly earnings shows the profits of Apple and some of the biggest names in the tech sector pale before the Saudi Arabian Oil Company, aka Saudi Aramco.
Dhahran-based Saudi Aramco is a state-owned oil and natural gas company. The company reported Sunday a 90% year-over-year increase in net income to $48.4 billion. The company also announced a second-quarter dividend of $18.8 billion, which is to be paid in the third quarter.
“Our record second-quarter results reflect increasing demand for our products — particularly as a low-cost producer with one of the lowest upstream carbon intensities in the industry,” said Amin Nasser, the company’s president and CEO.
See also: Is Saudi Aramco Stock a Good Buy?
How does the profit compare to the U.S. tech stalwarts?
Here’s how much these companies earned in the calendar year's second quarter:
- Apple, Inc. (NASDAQ:AAPL): $19.44 billion
- Microsoft Corporation (NASDAQ:MSFT) $16.7 billion
- Meta Platforms, Inc. (NASDAQ:META): $6.69 billion
- Tesla, Inc. (NASDAQ:TSLA): $2.25 billion
These four companies collectively earned a profit of $45.08 billion, which is about $3 billion less than Saudi Aramco’s profit.
Why It’s Important: Saudi Aramco has been one of the biggest beneficiaries of the spike in crude oil prices seen since the start of the pandemic in early 2020. The Russia-Ukraine war served to buoy prices further amid western sanctions against Russian oil imports.
The company’s profit has consistently risen since the second quarter of 2020.
Source: Statista
Saudi Aramco’s shares are listed on the Saudi stock exchange after its 2019 initial public offering through which it raised about $29.4 billion in proceeds. By market capitalization, the company stands second behind Apple. Apple’s market value is currently at $2.805 trillion compared to Saudi Aramco’s $2.332 trillion, according to companiesmarketcap.com.
Photo via Shutterstock.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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