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A week and a half ago, after Apple announced their blowout earnings for the holiday quarter, I wondered if the third and final pillar of Microsoft's financial strength over Apple was about to fall: profit.
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But it does suggest that, as those deficits fall, profits might come under pressure.
As fast as share prices are falling, profit forecasts are dropping even faster.
Even Lululemon, the athleisure pioneer, has been struggling with falling profit margins and rising inventory.
Premier Farnell has seen its shares drop sharply on worries about falling profit margins.
Sonoco, based in Hartsville, S.C., is trying to fight falling profit with cost cuts and acquisitions.
Falling prices mean falling profits, meaning falling incomes and rising unemployment.
This mostly reflects falling profits, which will hopefully prove temporary.
The China corporate sector has been battling falling profits.
All this adds up to another year of falling profits.
While property values have fallen, profits and cash-flow have held up, lifting share prices.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com