MG Siegler realizes that even though the iPhone didn’t even exist five or six years ago, it now brings in more revenue than all of Microsoft’s businesses combined.
Last quarter, Microsoft brought in $20.89 billion in revenue. Apple brought in $46.33 billion. Put another way: Apple’s iPhone business alone is larger than all of Microsoft’s businesses combined. And — just as remarkably — if you took away Apple’s iPhone business from the chart, the remaining Apple businesses would still be larger than Microsoft’s total business. And Apple’s earnings would look a lot more evenly distributed then.