Apple reports the largest corporate earnings in the history of the earth, stock down 10%


Apple today posted its earnings for the final quarter of 2012, which was ‘disappointingly’ the largest corporate earnings year in human history by a tidy margin, causing 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 13.1B in earnings this quarter was the 4th largest of all time according to the same metric.

Apple stole the top-ranking spot on the corporate earnings list from ExxonMobil, who held the top three spots until this quarter, and was previously ousted by Apple as the world’s most valuable company.

Apple’s stock has dropped nearly 11% in after-hours trading during the hour and a half earnings call, costing the company $50 billion in market value.