Last time I checked - Apple’s Mac and iPad business alone is larger than McDonalds. Cook admitted before that the Watch business is larger than the iPod was at its peak and analyst believe that their headphone business is as well.
I’m not talking about market value. If market value was a good stand in first sound business model neither Netflix (with negative cash flow) nor Uber or Lyft would be worth as much as they are. I’m talking about profit.
Amazon didn’t concentrate on profit (standard disclaimer I work for AWS) they did concentrate on free cash flow. They didn’t have to keep borrowing money to grow.
Netflix is also borrowing money for an “asset” that is worth less over time - content.
I’m not talking about market value. If market value was a good stand in first sound business model neither Netflix (with negative cash flow) nor Uber or Lyft would be worth as much as they are. I’m talking about profit.