Apple reports one of the largest corporate earnings in the history of the earth, stock down 10% (updated)


Apple today posted its earnings for the final quarter of 2012, which was ‘disappointingly’ one of the largest corporate earnings year in human history. The letdown caused many investors to panic as Apple clearly circles the drain in what will be the first step in a short road to the demise of the most valuable company in the world (if Exxon hasn’t indeed surpassed it tomorrow morning).

Apple’s $13.1 billion in earnings this quarter was the fourth largest of all time according to the same metric.

Apple is still topped by ExxonMobil, which holds the top three spots, and was previously ousted by Apple as the world’s most valuable company.

Apple’s stock dropped nearly 11 percent in after-hours trading during the 1.5-hour earnings call, costing the company $50 billion in market value.

(Updated, as the methods by which inflation was calculated changed rankings at the source)

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