The story of how Apple accounts for much of the S&P 500’s earnings growth is a bit stale. Demand coming from high-growth areas like Asia and stable regions like the U.S. is well known.
But the fact that it is growing so strongly in Europe – where governments are drowning in debt and the population is struggling with historically high unemployment – is a bit surprising.
And according to data compiled by FactSet, Apple’s Q2 revenue in Europe is expected to surge 32.3 per cent year-over-year.
Of the 10 largest companies offering a geographic break down of sales, Apple is just one of three reporting notable growth. The runner up is Intel climbing just 4.5 per cent.
Here’s a chart courtesy of FactSet:
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