FORTUNE -- Is Apple still a growth company? With the Wall Street Journal's question still hanging in the air, Asymco's Horace Dediu has found a novel way to highlight a source of growth within Apple (AAPL) that is often overlooked.
In the attached chart, he's stacked the revenue categories of Google's (GOOG) core business (i.e. without Motorola and "other") and compared them with the revenue components of Apple's iTunes/Software/Services division.
Taking into account the 70% Apple pays app developers (which the company doesn't report as revenue), Dediu figures the iTunes group had "gross" revenues of $23.5 billion with growth of 34% year over year.
"On a yearly basis," he writes, "iTunes/Software/Services is nearly half of Google's core business and growing slightly faster.
"The iTunes 'empire' of content and services would be ranked as number 130 in the Fortune 500 ranking of companies (slightly below Alcoa and above Eli Lilly)."
LINK: Asymco: Fortune 130
Apple posted record quarterly sales and got a one-day bounce in the stock market. Amazon posted its third quarterly loss in a row and hit an all-time record high.
FORTUNE -- In November, the last time we compared Apple's (AAPL) and Amazon's (AMZN) price-to-earnings ratios -- the simplest and most widely used metric to gauge the relative value of a pair of stocks -- Apple's trailing PE was 13 and Amazon's was MOREPhilip Elmer-DeWitt - Jul 29, 2013 5:08 AM ET
It ends this week. Investors might as well get ready for the negative headlines.
FORTUNE -- The bad news is that every analyst we've surveyed -- even the most bullish -- believes that for the first time in a decade Apple (AAPL) will report that its income this quarter was lower than the same quarter the year before.
According to Thomson Financial, the consensus EPS for fiscal Q2 2013 on Friday was MOREPhilip Elmer-DeWitt - Mar 24, 2013 9:43 AM ET
Over the past two decades, investing earnings in buybacks or future growth has trumped the stodgy old dividend and nowhere more so than in the tech industry. That is changing.
By Kevin Kelleher, contributor
FORTUNE -- As long as there have been dividends, there have been arguments between shareholders and company managers over whether to pay them. The strongest argument against paying dividends was profit growth: If a company can reinvest MOREJun 29, 2012 6:44 AM ET
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