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Stock Weekly: Apple (AAPL:USD383.77) climbs 5.4% - outperforming 82% of stocks
Apple Inc. (NASDAQ:AAPL), NASDAQ's largest Computer integrated systems company by market cap, has lifted USD19.66 (or 5.4%) in the past week to close at USD383.77. In the NASDAQ market of 2,404 stocks & 34 units traded today, the stock has a 6-month relative strength of 82 which means it is beating 82% of the market. A price rise combined with a high relative strength is a bullish signal. Compared with the NASDAQ-100 Index which rose 411.9 points (or 4.0%) in the week, this represented a relative price increase of 1.4%. The volume was 0.8 times average trading per week of 180.2 million shares. In the past week the market cap has risen USD86 billion. The price ranged between a low of 364.11 on Thursday, Jul 02 and a high of 382.73 on Thursday, Jul 09.
Friday's price up
Apple rises for a third consecutive day, a three-day rise of 2.8%
Apple Inc. risen USD1.04 (0.3%) for a third consecutive day on Friday. This brought its three-day rise to USD10.48 (2.8%), compared with the NASDAQ-100 Index which rose 229.8 points (2.2%) in the three days for a relative price increase of 0.6%. Cumulative volume in the 3 days was 0.8 times the average 3-day volume of 36 million shares. Apple's stock last traded at USD383.77. There were 22,462,300 shares worth USD8.6 billion traded today.
The Past Week:
Apple outperformed the NASDAQ-100 index in 3 out of 5 days.
|Day |Apple |Close price |Price change |Relative change|Comment |
| | |[USD] |% |% | |
|Thursday |Hits year-high 12th time in three months |382.73 |0.3 |-0.5 |Week-high of 382.73 |
|Wednesday |Adds USD35 billion in MCap |381.6 |2.2 |0.9 |Price rise on rising |
| | | | | |relative strength |
|Tuesday |Hits year-high 10th time in three months |373.29 |-0.2 |0.6 |Steepest Fall |
|Monday |Adds USD43 billion in MCap, top heavyweight rise in|374.0 |2.7 |0.2 |Top Rise |
| |Computer integrated systems sector | | | | |
|Thursday |Outperforming 89% of stocks |364.11 |0 |-0.6 |Week-low of 364.11 |
APPLE ISSUED 4 NEW PATENTS IN THE WEEK OF JULY 09, 2020
Apple (AAPL) has been issued 4 new patents by the USPTO & EPO.
TODAY'S INSTITUTIONAL NEWS FROM Q2 2020 REPORTS TOP 3 BY TRANSACTION VALUE:
Mount Yale Investment Advisors, LLC augments 4.2% in Apple
Mount Yale Investment Advisors, LLC increased its net position in Apple by 8,251 shares (or 4.2%) in Q2/2020.
In SEC filings for Q1/2020, Mount Yale Investment Advisors, LLC (CIK:0001744349) was ranked 439 out of 3126 institutional shareholders of Apple (NASDAQ:AAPL). During the quarter the Volume Weighted Average Price (VWAP) of Apple was USD309.45, valuing the 8,251 shares at USD2.6 million.
At June 30 Mount Yale Investment Advisors, LLC held 206,944 Apple shares worth USD64 million.
Carnegie Capital Asset Management, LLC trims 3.0% in Apple
Carnegie Capital Asset Management, LLC decreased its net position in Apple by 6,012 shares (or 3.0%) in Q2/2020.
In SEC filings for Q1/2020, Carnegie Capital Asset Management, LLC (CIK:0001511506) was ranked 435 out of 3126 institutional shareholders of Apple (NASDAQ:AAPL). During the quarter the Volume Weighted Average Price (VWAP) of Apple was USD309.45, valuing the 6,012 shares at USD1.9 million.
At June 30 Carnegie Capital Asset Management, LLC held 197,532 Apple shares worth USD61.1 million.
Legacy Private Trust Co. keeps buying more of Apple
Legacy Private Trust Co. increased its net position in Apple by 5,569 shares (or 11.5%) in Q2/2020.
In SEC filings for Q1/2020, Legacy Private Trust Co. (CIK:0001352547) was ranked 1117 out of 3126 institutional shareholders of Apple (NASDAQ:AAPL). During the quarter the Volume Weighted Average Price (VWAP) of Apple was USD309.45, valuing the 5,569 shares at USD1.7 million.
At June 30 Legacy Private Trust Co. held 54,136 Apple shares worth USD16.8 million.
Stock Summary
|Jul 10 close |USD383.77 |Shares Outstanding |4,375,480,000 |
|Ave Daily Volume |36,045,305 shares |No. Held by Institutions |2,518,079,981 |
|52-Week Range |190.31 - 385.27 |% of shares outstanding |57.55% |
|P/E |29.8 |Market Cap |USD1,679.2 billion |
|Dividend Yield |0.8% |EPS Growth % (q.o.q) |-48.8 |
|Sector |Computer Integrated Systems | | |
Primary Exchange and Other Listings: Trading Currency and Volume
|Exchange |Ticker |Currency |Last |ADVT |Vol % of Total |Today's VI |
|Nasdaq |AAPL |USD |383.77 |36,045,287 |99.8 |0.6 |
|Xetra |APC |EUR |337.35 |59,901 |0.2 |0.6 |
|Total | | | | |100.00 | |
1 USD= 1.1273 EUR
ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)
Financials Summary: EPS down 0.3% to USD11.97 in FY2019
+ Net profit was down 7.2% from USD59.5 billion in FY2018 to USD55.3 billion in FY2019.
+ Earnings Per Share (EPS) was down 0.3% from USD12.01 in FY2018 to USD11.97 in FY2019.
|Year ended Sep |FY2019 |FY2018 |FY2017 |
|Sales (USD B) |260.2 |265.6 |229.2 |
|Pretax (USD B) |65.7 |72.9 |64.1 |
|Net (USD B) |55.3 |59.5 |48.4 |
|EPS (USD) |11.97 |12.01 |9.27 |
LINKS TO FURTHER INFORMATION ON AAPL:
EXCEL TABLES ARE AVAILABLE TO EXPORT AS FOLLOWS:
+ LATEST FINANCIALS [Q2/2020]:
+ CATEGORISED AND COMPLETE LIST OF 3126 INSTITUTIONAL SHAREHOLDERS
+ NEWS ARCHIVES PAST 4 YEARS IN HTML
+ CURRENT MONTH CATEGORISED LIST OF 78 PATENTS
+ 5-YEARS CATEGORISED LIST OF 11686 PATENTS
INDEX
SECTION 1 Recent News
SECTION 2 Corporate Profile and Independent Ratings
SECTION 3 Friday's Bullish Signals
SECTION 4 Ongoing Bullish Parameters
SECTION 5 Friday's Bearish Signals
SECTION 6 Ongoing Bearish Parameters
SECTION 7 Insider Selling and Ownership
SECTION 8 Corporate Bonds
SECTION 9 Patents
SECTION 10 Apple Board of Directors
SECTION 11 Tax & Dividend
SECTION 12 Financials Q2 2020, FY 2019
SECTION 13 Peer Group Analysis & Ranking
SECTION 14 Q1/2020 INSTITUTIONAL SHAREHOLDER ACTIVITY
Glossary
SECTION 1 Recent News
1.1 Institutional News [Update News: July 10, 2020]
Today's Institutional shareholder snippets from Q2 2020 Reports
Top 3 increases by value:
Mount Yale Investment Advisors, LLC augments 4.2% in Apple
Legacy Private Trust Co. keeps buying more of Apple
Sanders Morris Harris Inc. adds 6.9% in Apple
Top 3 decreases by value:
Carnegie Capital Asset Management, LLC trims 3.0% in Apple
Ipswich Investment Management Co., Inc. keeps selling more of Apple
Jacobs & Co keeps selling more of Apple
Top 20 Institutions increasing their holdings in Apple shares [Q2/2020]
|Institution Name (CIK) |Rank on Mar 31, |Mar 31, 2020 |Jun 30, 2020 |Increase % |*Today's Market Value USD |
| |2020 | | | |million |
|Envestnet Asset Management (0001407543) |133 |1,680,849 |1,767,232 |5.1 |676.4 |
|State of Alaska, Department of Revenue |202 |754,089 |764,159 |1.3 |292.5 |
|(0001370102) | | | | | |
|DNB Asset Management AS (0001456670) |242 |524,318 |638,357 |21.7 |244.3 |
|Mount Yale Investment Advisors (0001744349) |439 |198,693 |206,944 |4.2 |79.2 |
|Livforsakringsbolaget Skandia, Omsesidigt |468 |178,979 |179,079 |0.06 |68.5 |
|(0001547926) | | | | | |
|Chesley Taft & Associates (0001164632) |629 |114,680 |115,792 |0.97 |44.3 |
|Diversified Trust Co (0001479844) |778 |87,465 |89,571 |2.4 |34.3 |
|First American Trust, F.S.B. (0000036066) |934 |64,334 |68,897 |7.1 |26.4 |
|Woodstock (0001008877) |973 |60,277 |60,363 |0.14 |23.1 |
|Campbell Capital Management (0000826794) |1057 |52,705 |55,128 |4.6 |21.1 |
|Legacy Private Trust Co. (0001352547) |1117 |48,567 |54,136 |11.5 |20.7 |
|Nadler Financial Group (0001541787) |1132 |47,906 |48,513 |1.3 |18.6 |
|True Private Wealth Advisors (0001667074) |1180 |44,164 |47,569 |7.7 |18.2 |
|Hudson Valley Investment Advisors (0000943442) |1214 |42,392 |42,519 |0.3 |16.3 |
|West Branch Capital (0001738723) |1281 |38,531 |39,448 |2.4 |15.1 |
|Anderson Hoagland & Co (0000791191) |1600 |25,300 |25,525 |0.89 |9.8 |
|First PREMIER Bank (0001653926) |1657 |23,565 |23,836 |1.2 |9.1 |
|Diligent Investors (0001549042) |1662 |23,461 |23,533 |0.31 |9 |
|Founders Capital Management (0001585828) |1724 |21,468 |21,539 |0.33 |8.2 |
|Bangor Savings Bank (0001352675) |1727 |21,396 |21,485 |0.42 |8.2 |
*Today's Market Value in USD million of holdings as at June 30, 2020.
Top 20 Institutions decreasing their holdings in Apple shares [Q2/2020]
|Institution Name (CIK) |Rank on Mar 31, |Mar 31, 2020 |Jun 30, 2020 |Decrease % |*Today's Market Value USD |
| |2020 | | | |million |
|Independent Investors (0001121908) |309 |357,560 |355,875 |0.47 |136.2 |
|Park National (0000805676) |403 |232,106 |228,246 |1.7 |87.4 |
|Carnegie Capital Asset Management |435 |203,544 |197,532 |3.0 |75.6 |
|(0001511506) | | | | | |
|Cacti Asset Management (0001452208) |466 |181,591 |159,430 |12.2 |61 |
|Horan Capital Management (0001269134) |555 |136,317 |134,722 |1.2 |51.6 |
|Courier Capital (0001015247) |636 |113,197 |111,247 |1.7 |42.6 |
|Cullinan Associates (0001161670) |610 |118,576 |107,686 |9.2 |41.2 |
|Carroll Financial Associates (0001567784) |672 |103,698 |103,673 |0.02 |39.7 |
|Bath Savings Trust Co (0001384943) |662 |105,499 |103,226 |2.2 |39.5 |
|Ibm Retirement Fund (0001018825) |665 |104,817 |102,971 |1.8 |39.4 |
|Burns J W & Co (0001047339) |690 |100,190 |99,127 |1.1 |37.9 |
|Nexus Investment Management (0001476329) |673 |103,695 |93,805 |9.5 |35.9 |
|TNB Financial (0001561790) |658 |107,970 |89,723 |16.9 |34.3 |
|M&R Capital Management (0001057395) |767 |89,030 |87,796 |1.4 |33.6 |
|Fulton Bank (0000883782) |768 |88,850 |87,318 |1.7 |33.4 |
|Jacobs & Co (0001055544) |753 |91,056 |86,992 |4.5 |33.3 |
|Forte Capital (0001022314) |785 |85,620 |84,643 |1.1 |32.4 |
|Webster Bank (0001105837) |796 |83,671 |80,348 |4.0 |30.8 |
|Private Asset Management (0001026200) |848 |76,791 |75,914 |1.1 |29.1 |
|Addenda Capital (0001569411) |916 |66,402 |62,748 |5.5 |24 |
*Today's Market Value in USD million of holdings as at June 30, 2020.
1.2 Financial News
Quarterly Report (Q2/2020):
May 01, 2020
Quarterly Report Analysis Q2 2020: Apple EPS slumps 49%
Apple (NASDAQ:AAPL), announced EPS of $US2.58 for the quarter-ended 28 March 2020 [Q2/2020], down 48.8% sequentially from $US5.04 in the previous quarter [Q1/2020].
Compared with the previous corresponding period [PCP; Q2/2019], year-over-year [y.o.y.] EPS was up 4.5%, Revenue was up 0.5% and Net Profit was down 2.7%.
Read more in SECTION 12 on Financials
1.3 Dividends
May 05: Apple quarterly dividends up 6.5% sequentially from previous quarter
Apple today announced a quarterly dividend of 82.0c per share for Q2/2020; up 6.5% sequentially from the previous quarter (Q1/2020) dividend of 77.0c. The ex-dividend date is Friday, May 08, 2020 and the record date is Monday, May 11, 2020 and it is payable on Thursday, May 14. Total dividends per share paid in the 12 months ended May 06 were US$3.08. This reflects actual dividend yield of 1.1% at the last price of US$293.16.
1.4 Press Releases
July 06: Apple's WWDC20 Swift Student Challenge winners determined to shape the future
When the Apple 2020 Worldwide Developers Conference kicks off on June 22 in a new virtual format, a global community of 23 million developers will have the opportunity to join from around the world for free through the Apple Developer app and the Apple Developer website. Now in its 31st year, WWDC20 will bring together the largest group of innovators and entrepreneurs ever assembled to connect, share, and create.
Source: Company Website
July 06: Apple honors eight developers with annual Apple Design Awards
Apple today named eight app and game developers receiving an Apple Design Award, each one selected for being thoughtful and creative. Apple Design Award winners bring distinctive new ideas to life and demonstrate deep mastery of Apple technology. The apps spring up from developers large and small, in every part of the world, and provide users with new ways of working, creating, and playing.
Source: Company Website
June 26: Apple: WWDC20 highlights
On Monday, Apple kicked off its all-online Worldwide Developers Conference in Cupertino, California, and since then tens of millions of people have watched the WWDC20 Special Event Keynote via live stream and on demand, across all platforms. There were more than 4 million visits to the Apple Developer app, and developers from around the world streamed 206 engineering sessions, including developers from Brazil, China, France, Germany, India, Japan, Russia, and the UK.
Source: Company Website
June 22: Apple reveals new developer technologies to foster the next generation of apps
Apple today announced a robust line-up of new technologies to help its 23 million developers design and build the apps of tomorrow. These new tools will enable developers to bring more powerful app experiences to Apple's industry-leading platforms, and help them better manage and grow their businesses. In addition to Apple's annual developer survey, WWDC20 will feature an online App Store lab so that developers from around the world can share their feedback and help inform future improvements to the App Store. Apple is also adding new forums for developers to relay suggestions throughout the coming year and beyond.
Source: Company Website
June 22: Apple: 13 new innovative technologies and features unveiled at WWDC20
Today Apple kicked off its all-online Worldwide Developers Conference bringing together millions of developers and fans from across the globe for the Special Event Keynote and Platforms State of the Union. The day was filled with announcements and innovations that will push the experience of Apple platforms and products even further. From macOS Big Sur, featuring the biggest design upgrade since the introduction of Mac OS X, to watchOS 7, the new App Library in iOS 14, and enhanced handwriting capabilities with Apple Pencil in iPadOS 14, here are some of the most groundbreaking features and app development tools unveiled at WWDC20.
Source: Company Website
June 22: Apple announces Mac transition to Apple silicon
In a historic day for the Mac, Apple today announced it will transition the Mac to its world-class custom silicon to deliver industry-leading performance and powerful new technologies. Developers can now get started updating their apps to take advantage of the advanced capabilities of Apple silicon in the Mac. This transition will also establish a common architecture across all Apple products, making it far easier for developers to write and optimize their apps for the entire ecosystem.
Source: Company Website
June 22: Apple introduces macOS Big Sur with a beautiful new design
Apple today previewed macOS Big Sur, the latest version of the world's most advanced desktop operating system. macOS Big Sur introduces a beautiful redesign that is entirely new yet instantly familiar. Safari is packed with new features, including a customizable start page, elegantly designed and more powerful tabs, quick and easy translation, and a new Privacy Report. The updated Messages app lets Mac users send and receive more personal and expressive messages, and easily keep track of and interact within group messages. Maps also offers an all-new experience with immersive features for exploring and navigating the world.
Source: Company Website
June 15: Apple's App Store ecosystem facilitated over half a trillion dollars in commerce in 2019
Apple today announced the App Store ecosystem supported $519 billion in billings and sales globally in 2019 alone. The new study, conducted by independent economists at Analysis Group, found that the highest value categories were mobile commerce (m-commerce) apps, digital goods and services apps, and in-app advertising. The results encapsulate the full sweep of the dynamic, competitive, and flourishing app economy, which has unleashed a torrent of innovation across 175 countries and revolutionized the way the world learns, works, and connects.
Source: Company Website
June 11: Events Calendar: Apple reveals lineup for its biggest-ever Worldwide Developers Conference
WWDC20 to include keynote address, Platforms State of the Union, 100+ engineering sessions, all-new Developer Forums, 1-on-1 labs with more than 1,000 Apple engineers, and more
Source: Company Website
May 15: As Pride goes virtual, Apple Watch Pride Edition helps community and advocacy continue worldwide
Like most high school seniors, Elle Smith hasn't had the year they imagined. Prom was cancelled. A graduation ceremony is up in the air. But one thing Elle hasn't compromised on is weekly virtual meetings of their Austin, Texas, high school's Genders and Sexualities Alliance, a club for LGBTQ students and allies to come together and find community. Elle restarted the club their freshman year and has led it ever since.
Source: Company Website
May 12: Apple unveils biggest update to Logic since the launch of Logic Pro X
Apple today unveiled a major update to Logic Pro X with a professional version of Live Loops, a completely redesigned sampling workflow, and new beat-making tools. With its collection of powerful creative features, Logic Pro X 10.5 will be a massive release for all musicians, including those producing electronic music.
Source: Company Website
May 07: Apple awards $10 million from Advanced Manufacturing Fund to COPAN Diagnostics
Apple today announced it is awarding $10 million from its Advanced Manufacturing Fund to COPAN Diagnostics, a market leader in sample collection kits that play a critical role in COVID-19 testing. This funding will allow COPAN Diagnostics to rapidly accelerate their supply of sample collection kits for hospitals across the United States, expanding production from several thousand today to more than one million kits per week by early July. As part of this effort, Apple will support COPAN Diagnostics' expansion to a new, larger facility in Southern California, with advanced equipment that Apple is helping design. This expansion is expected to create more than 50 new jobs.
Source: Company Website
May 05: Events Calendar: Apple to host virtual Worldwide Developers Conference beginning June 22
Apple today announced it will host its annual Worldwide Developers Conference virtually, beginning June 22, in the Apple Developer app and on the Apple Developer website for free for all developers. The company also announced the Swift Student Challenge, an opportunity for student developers to showcase their love of coding by creating their own Swift playground. Now in its 31st year, WWDC20 will be an opportunity for millions of creative and innovative developers around the world to get early access to the future of iOS, iPadOS, macOS, tvOS, and watchOS, and to learn from Apple engineers as they work to build app experiences that enrich the lives of Apple customers around the globe.
Source: Company Website
May 04: Apple updates 13-inch MacBook Pro with Magic Keyboard, double the storage, and faster performance
Apple today updated the 13-inch MacBook Pro with the new Magic Keyboard for the best typing experience ever on a Mac notebook and doubled the storage across all standard configurations, delivering even more value to the most popular MacBook Pro. The new lineup also offers 10th-generation processors for up to 80 percent faster graphics performance1 and makes 16GB of faster 3733MHz memory standard on select configurations. With powerful quad-core processors, the brilliant 13-inch Retina display, Touch Bar and Touch ID, immersive stereo speakers, all-day battery life, and the power of macOS, all in an incredibly portable design, the new 13-inch MacBook Pro is available to order today, starting at $1,299, and $1,199 for education.
Source: Company Website
April 30: Apple Reports Second Quarter Results
Apple today announced financial results for its fiscal 2020 second quarter ended March 28, 2020. The Company posted quarterly revenue of $58.3 billion, an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.55, up 4 percent. International sales accounted for 62 percent of the quarter's revenue.
Source: Company Website
April 30: Apple Reports Second Quarter Results
CUPERTINO, California - April 30, 2020 - Apple(Registered) today announced financial results for its fiscal 2020 second quarter ended March 28, 2020. The Company posted quarterly revenue of $58.3 billion, an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.55, up 4 percent. International sales accounted for 62 percent of the quarter's revenue.
"Despite COVID-19's unprecedented global impact, we're proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables," said Tim Cook, Apple's CEO. "In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive. We feel motivated and inspired to not only keep meeting these needs in innovative ways, but to continue giving back to support the global response, from the tens of millions of face masks and custom-built face shields we've sent to medical professionals around the world, to the millions we've donated to organizations like Global Citizen and America's Food Fund."
Source: SEC
April 21: Apple Services now available in more countries around the world
Apple announced that starting today, even more customers around the world can enjoy many of Apple's most popular Services. The App Store, Apple Arcade, Apple Music, Apple Podcasts, and iCloud are now available in 20 more countries, and Apple Music is available in 52 additional countries.
Source: Company Website
April 14: Apple makes mobility data available to aid COVID-19 efforts
Apple today released a mobility data trends tool from Apple Maps to support the impactful work happening around the globe to mitigate the spread of COVID-19. This mobility data may provide helpful insights to local governments and health authorities and may also be used as a foundation for new public policies by showing the change in volume of people driving, walking or taking public transit in their communities. To learn more about COVID-19 mobility trends, visit covid19/mobility.
Source: Company Website
1.5 People's News
Thu Jul 02, 2020
Andrea Jung's performance as Director of Apple (NASDAQ:AAPL) is ranked in the top 5% of BuySellSignals performers for the past five years; a percentile ranking of 95.1. In the last 5 years the average annualized return to shareholders was 27.8%. The 5-year average return is ranked 2,148 out of 44,063 public companies traded globally. A three-bagger, the present value of US$1,000 (PV1000) invested 5 years ago is now worth USD3,403; a capital gain of USD2,126 and dividend reinvested of USD277.
Tue Jun 30, 2020
Apple (NASDAQ:AAPL) CEO Timothy D. Cook holds 2,667,969 shares worth USD973.3 million at the last price of USD364.80, a fall in value by USD327 million (25.1%). A month ago Timothy D. Cook held the same number of shares.
Tue Jun 30, 2020
Apple (NASDAQ:AAPL) Director Albert A. Gore Jr. holds 115,868 shares worth USD42.3 million at the last price of USD364.80, a rise in value by USD6.2 million (17%). A month ago Albert A. Gore Jr. held 113,585 shares and the price was USD317.94.
Tue Jun 30, 2020
Apple (NASDAQ:AAPL) Director Ronald D. Sugar holds 25,568 shares worth USD9.3 million at the last price of USD364.80, a rise in value by USD1.5 million (18.7%). A month ago Ronald D. Sugar held 24,714 shares and the price was USD317.94.
Tue Jun 30, 2020
Apple (NASDAQ:AAPL) Company Secretary Katherine Adams holds 67,019 shares worth USD24.4 million at the last price of USD364.80, a fall in value by USD2.2 million (8.2%). A month ago Katherine Adams held 83,751 shares and the price was USD317.94.
Tue Jun 30, 2020
Apple (NASDAQ:AAPL) Director James A. Bell holds 8,570 shares worth USD3.1 million at the last price of USD364.80, a rise in value by USD673,111 (27.4%). A month ago James A. Bell held the same number of shares.
Tue Jun 30, 2020
Apple (NASDAQ:AAPL) CFO Luca Maestri holds 27,568 shares worth USD10.1 million at the last price of USD364.80, a rise in value by USD1.3 million (15.2%). A month ago Luca Maestri held the same number of shares.
Sun Jun 28, 2020
Apple (NASDAQ:AAPL) COO Jeff Williams holds 316,322 shares worth USD111.9 million at the last price of USD353.63, a rise in value by USD19.5 million (21.1%). Three months ago Jeff Williams held the same number of shares and the price was USD256.74.
Fri Apr 17, 2020
Apple (NASDAQ:AAPL) Senior Vice President and Retail - People Deirdre O'Brien sold 9,137 shares worth $US2,605,141 on April 16. The selling price was $US285.12.
1.6 Recent Business News Round Up: CNBC
July 08: Mike Santoli's market notes: Growth dominance, Buffett's great Apple investment, uptrend confirmed?
This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
Lethargic, drifting market leans against the same obvious supports in Big Tech, with the tape caught in a weeks-long trading range and the economic-recovery groups weighing down the tape.
Noted yesterday the familiar setup vs. last month: Strong jobs report on a Friday carries stocks higher, with further upside follow-through Monday that seems to cap a rally. On June 8, it was the post-crash high of 3232 on the S&P 500. This Monday is was 3180. Last month, morning rallies failed the next two days, same as yesterday and today.
Source: CNBC
July 08: Apple Maps driving activity is slowing again in warning sign for the economy
As coronavirus cases surge across the United States, data from navigation app Apple Maps shows a slowdown in requests for driving directions, a potential warning sign as the country works to restart the economy amid the pandemic.
The data from Apple tracks the change in volume of directions requests compared with a baseline level on Jan. 13, 2020, before the Covid-19 outbreak made its way around the globe. After a sharp decline in March, requests for driving, walking and transit directions had been steadily increasing in the U.S. But after reaching a peak in early July, driving direction requests have dropped by 6% over the past few days, based on the change in a seven-day moving average.
Source: CNBC
July 08: Deutsche Bank's Jeriel Ong on why he raised Apple's price target to $400 per share
CNBC's Jon Fortt talks with Jeriel Ong of Deutsche Bank about his call on Apple's stock.
Source: CNBC
July 08: 'Fear of missing out' sends Apple's stock higher, says research analyst
CNBC's "Squawk Alley" team discusses how tech stocks are trading in this market with Paul Holland of Foundation Capital and Amit Daryanani of Evercore ISI.
Source: CNBC
July 08: Apple
Deutsche Bank hiked its price target on Apple to $400 per share from $380 per share, implying a 7.3% upside from Tuesday's close of $372.69. "Overall, we feel comfortable that AAPL should continue to offer upside for investors," a Deutsche Bank analyst said in a note. However, the analyst noted the stock's recently sharp run-up "has us nervous."
Source: CNBC
July 08: The vast majority of Apple stores closed due to the Covid-19 pandemic are located in the U.S., Morgan Stanley says
The vast majority of Apple stores closed due to the Covid-19 pandemic are located in the United States, according to a new analysis from Morgan Stanley.
One hundred Apple retail stores were closed around the world at the end of last week, and 92 were located in the United States, according to the note. Apple has 510 stores worldwide and 271 stores in the United States.
Apple was one of the first major companies to close its retail stores during the pandemic, and the company says it monitors the coronavirus situation to determine whether it is safe to operate its stores.
The company's stores are often in major malls or business districts, making it a key indicator of how smoothly and where retail operations can restart amid the Covid-19 pandemic. The ratio of closures in the U.S. suggests Apple sees a significantly riskier environment for retail in its home country versus the rest of the world.
Overall, closures are picking up again. Morgan Stanley analyst Katy Huberty wrote that last week saw the first net increase in Apple Store closures since March, when Apple first shut down all stores outside China.
"As of July 7th, 410 of 510 Apple retail stores, or 80% of all stores, are reopened, down from 457 the week prior."
Last week, Apple said that it has reclosed 77 stores in the United States because of rising Covid-19 cases in many regions. Previously, it had been reopening many locations with social distancing, mandatory masking and curbside pickup or service appointment options.
An Apple spokesman said at the time in a statement: "Due to current COVID-19 conditions in some of the communities we serve, we are temporarily closing stores in these areas. We take this step with an abundance of caution as we closely monitor the situation and we look forward to having our teams and customers back as soon as possible."
Apple has continued to reclose stores, including one location in Georgia and one in California this week.
July 01: Apple to reclose 30 more retail stores as coronavirus cases spike
Apple will close 30 additional stores in the United States by Thursday, the company said, bringing the total number of reclosures in the United States to 77 as Covid-19 cases rapidly rise in several regions around the country.
Stores in Alabama, California, Georgia, Idaho, Louisiana, Nevada and Oklahoma will close Thursday. Other stores in Florida, Mississippi, Texas and Utah are closed as of Wednesday. Apple has 271 stores in the United States.
Apple shares dropped on the announcement to go negative during trading on Wednesday.
Apple stores tend to be in highly trafficked malls and shopping centers, and the fact that they are reclosing in such large numbers can be seen as a negative indicator of how smoothly retail operations can restart in the United States amid the coronavirus.
An Apple spokesman said in a statement: "Due to current COVID-19 conditions in some of the communities we serve, we are temporarily closing stores in these areas. We take this step with an abundance of caution as we closely monitor the situation and we look forward to having our teams and customers back as soon as possible."
The closings announced on Wednesday include the last two remaining stores open in Florida, as well as a number of stores around the Los Angeles area.
Apple was one of the first companies to shut its stores around the world in response to the Covid-19 pandemic. Stores started to reopen focusing on curbside service in the U.S. with safety measures including masks and temperature checks, but the rising rates of Covid-19 have forced the company to close many of its locations in hard-hit states.
Source: CNBC
July 01: Apple reclosing 30 more stores starting July 2, 77 in total
CNBC's Josh Lipton reports that Apple will be reclosing 30 more stores as coronavirus cases rise in the U.S.
Source: CNBC
June 30: Apple doesn't want Watch users to stress out about their sleep, so it's focusing on goals, not data
Apple fans have speculated for years about when the company's smartwatch would start tracking sleep. Now it's finally arriving with the next version of the Apple Watch's software, WatchOS 7, and it's a little different than what we've seen before.
Apple unveiled its sleep tracking features at WWDC, its developer conference, last week. But it's not a new area of interest for the company. Kevin Lynch, Apple's vice president in charge of Apple Watch software, told CNBC that the company has been extensively researching sleep technology for years.
"Some of these things are nonobvious when you first start working on sleep and it took us a while to get there," he said.
Thanks to this research, Apple decided to focus its efforts on setting and achieving simple goals, rather than collecting and analyzing data about a user's sleep habits. It might not be the right tech for those who are fixated with data and tracking their phases, like the number of hours they logged rapid eye movement sleep. But sleep medicine experts, who are wary of arming consumers with too much information without sufficient context, told CNBC that it's one of the better approaches out there.
Here's how Apple's sleep tracking tech works and why it stands out from the pack:
Source: CNBC
June 30: Apple partner JAMF files to go public after almost two decades helping companies use Apple products
JAMF's IPO prospectus names Apple 533 times. The company says its mission is to "help organizations succeed with Apple." One of its key risk factors is that customers become dissatisfied with Apple products.
Founded 18 years ago, JAMF is finally headed for the public market. In its prospectus released on Tuesday, the company isn't shy about tying its fortunes to a tech giant that's now valued by investors at over $1.5 trillion.
"Apple is ubiquitous," JAMF says in the industry background section of its filing. "It has transformed the technology landscape by placing the user first and designing everything around maximizing the Apple user experience."
JAMF helps companies securely deploy all of those Apple products, connecting them together and giving IT teams the tools to manage them. In the first quarter, revenue climbed 37% from a year ago, to $60.4 million, and the company's gross margin rose to 75% from 70%, as more customers turned to its subscription offering. It's still losing money, though its net loss narrowed slightly from $9 million to $8.3 million.
JAMF has been around for a long time, but its business has taken off in the last few years as Apple devices became more popular in business environments. Prior to the iPhone's rise last decade, companies tended to rely on PCs running software from Microsoft and other vendors, and a myriad of phones from different providers. The iPhone's popularity convinced some companies to take a closer look at other Apple products, including iPads and Macs.
Source: CNBC
1.7 Stock Buzz
Source: The Wall Street Journal
|News Date |Headline |
|Jul 08 |Apple in a Pickle |
|Jun 27 |Wells Fargo, Apple, Walt Disney: Stocks That Defined the Week |
|Jun 25 |Thinking about buying stock in Ekso Bionics, Apple Inc, GNC Holdings, Microsoft Corp, or Aptevo Therapeutics? |
|Jun 23 |Apple Is the Newest Chip Giant in Town |
|Jun 22 |Apple’s WWDC Goes Virtual, and Tech Industry Is Taking Note |
|Jun 20 |The iPhone Isn’t the Cash Cow It Once Was. Apple Isn’t Worried. |
Source: Bloomberg
|News Date |Headline |
|Jul 09 |Belkin Introduces Reusable Privacy Screen Protection And Portable Wireless Charging For Apple Devices To Mobile |
| |Accessories Por |
|Jul 06 |Covid: Fed Gets Close to Backing Apple Stock by Buying Its Bonds |
|Jul 02 |Apple, Facebook, Amazon, Google CEOs to Testify in Congress |
|Jul 01 |Apple Closes More Stores Again After Covid-19 Surge |
|Jun 30 |Apple Executive Defends App Store Rules Scrutinized by EU, U.S. |
|Jun 24 |Apple to Close Houston Stores Again on Covid-19 Spike |
Source: Other Publishers
|News Date |Headline |Publisher |
|Jul 10, 2020|Dump United Airlines and Buy Apple Instead |InvestorPlace on |
|Jul 10, 2020|P2P Internet Bandwidth Market Orchid Launches Orchid VPN App, Available in the Apple App|Crowdfund Insider |
| |Store | |
|Jul 08, 2020|Apple Inc. (NASDAQ:AAPL) Expected to Announce Earnings of $1.96 Per Share | |
|Jul 08, 2020|OLED Displays Coming To All 5G Model Apple iPhones In 2020: Report | on |
|Jul 08, 2020|Apple (NASDAQ:AAPL) Target Raised by Raymond James to $400.00 |Stock Market Daily |
|Jul 07, 2020|One Reason Apple Is Still One Of My Top Tech Picks |BayStreet |
1.8 Analyst Recommendations: Past Month
|Date |Brokerage |Current Rating |Price Target |
|Jun 23, 2020 |Goldman Sachs Group |Sell |263 |
|Jun 23, 2020 |Credit Suisse Group |Neutral |295 |
|Jun 23, 2020 |Oppenheimer |Buy |320 |
|Jun 22, 2020 |Goldman Sachs Group |Sell |263 |
|Jun 22, 2020 |Oppenheimer |Buy |320 |
SECTION 2 Corporate Profile and Independent Ratings
2.1 Activities
Apple Inc. designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers.
In FY 2019, the top earner of Revenue was iPhone [54.7%] followed by Services [17.8%] at Rank 2 , Mac [9.9%] at Rank 3 , Wearables Home and Accessories [9.4%] at Rank 4 and iPad [8.2%] at Rank 5. In FY 2019, revenue growth was highest in Wearables Home and Accessories [40.9%] followed by Services [16.5%] at Rank 2 , iPad [15.8%] at Rank 3 and Mac [2.2%] at Rank 4.
2.2 Segment Information
| |$US | |$US | | |
|Description |2019-09-28 |% of Total |2018-09-29 |% of Total |Growth(%) |
|Net sales disaggregated by significant products and services |- |- |- |- |- |
|iPhone(1) |142.4 B |54.7 |164.9 B |62.1 |-13.6 |
|Mac (1) |25.7 B |9.9 |25.2 B |9.5 |2.2 |
|iPad(1) |21.3 B |8.2 |18.4 B |6.9 |15.8 |
|Wearables Home and Accessories (1)(2) |24.5 B |9.4 |17.4 B |6.5 |40.9 |
|Services (3) |46.3 B |17.8 |39.7 B |15 |16.5 |
|Total |260.2 B |100 |265.6 B |100 |-2 |
(1)Products net sales include amortization of the deferred value of unspecified software upgrade rights which are bundled in the sales price of the respective product.
(2)Wearables Home and Accessories net sales include sales of AirPods Apple TV Apple Watch Beats products HomePod iPod touch and Apple-branded and third-party accessories.
(3)Services net sales include sales from the Company's digital content stores and streaming services AppleCare licensing and other services. Services net sales also include amortization of the deferred value of Maps Siri and free iCloud services which are bundled in the sales price of certain products.
(4)Includes 5.9 billion of revenue recognized in 2019 that was included in deferred revenue as of September29 2018 5.8 billion of revenue recognized in 2018 that was included in deferred revenue as of September30 2017 and 6.3 billion of revenue recognized in 2017 that was included in deferred revenue as of September24 2016.
Top Segments by Revenue and rank
In FY 2019, the top earner of Revenue was iPhone [54.7%] followed by Services [17.8%] at Rank 2 , Mac [9.9%] at Rank 3 , Wearables Home and Accessories [9.4%] at Rank 4 and iPad [8.2%] at Rank 5.
Top Segments by Revenue growth and rank
In FY 2019, revenue growth was highest in Wearables Home and Accessories [40.9%] followed by Services [16.5%] at Rank 2 , iPad [15.8%] at Rank 3 and Mac [2.2%] at Rank 4.
2.3 Contact Details
|Website | |
|Physical Address |1 Infinite Loop,Cupertino,CA,95014 |
|Phone |+1 408 996-1010 |
|Fax |+1 408 974-2483 |
|Email |investor_relations@ |
2.4 Industry & Sector
|Classification Level |Name of Sector |
|Economic Sector |Technology |
|Business Sector |Technology Equipment |
|Industry Group |Computers, Phones & Household Electronics |
|Industry |Computer Hardware |
|Activity |Computer Hardware - NEC* |
* NEC: Not elsewhere classified
2.5 North American Industry Classification System [NAICS]
Code: 334220
Industry Title: Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing
2.6 Independent Ratings
+ Just Capital:
Apple Inc. was ranked 16 in the Just Capital annual list of top 100 ESG stocks for 2019; it was ranked 2 in the Technology hardware sector.
+ Carbon Disclosure Project (CDP):
It is one of 181 companies selected by the Carbon Disclosure Project (CDP) in their A List 2019. The CDP names the world's most pioneering companies leading on environmental transparency and performance.
+ Fortune 500:
It was ranked 9 by total revenues in the Fortune 500 annual list for 2017; unchanged over a year from the same rank 9 in 2013.
+ Industryweek 1000:
It is a new entrant in the Industry Week list of the world's largest 1000 manufacturers by Revenues in 2016, ranked 7.
+ Newsweek 500:
It was ranked 26 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 15% in Carbon productivity, 11.7% in Water productivity and 11.3% in Waste productivity.
+ Top 50 BCG:
It was ranked 1 in Boston Consulting Group's list of Top 50 Most Innovative Companies 2016; unchanged over a year from the same rank 1 in 2015.
+ Clarivate 100:
It is ranked in the Top 100 innovators by Clarivate Analytics.
+ PwC 100:
It was ranked 1 by MCap as at March 31, 2015 by PwC in the Top 100 Global companies; an improvement over 6 years from rank 33 as at March 31, 2009.
+ FT 500:
It is the 13th largest by revenue in the FT Global 500.
+ Citi Top 50:
It was ranked in Citi's Top 50 global cash cows with reinvest-to-payout ratio of 0.28.
+ Forbes 2000:
It is the 11th largest by revenue in the Forbes Global 2000.
+ PwC Top100 Software Leaders:
It is the 28th largest by revenue and largest by MCap among the PwC Global Software Leaders.
SECTION 3 Friday's Bullish Signals
3.1 Momentum Up 8.8% Past Month
In the past quarter the week beginning Monday May 04 saw the highest weekly rise of 7.6% for a relative price increase of 1.8%.
The Best 3 weeks in the past quarter:
|Mon-Fri |Change % |NASDAQ-100 index Change % |RPC % |Vol Ind [1 is avg] |
|May 04-08 |7.6 |5.8 |1.8 |- |
|Apr 13-17 |5.5 |7.2 |-1.7 |1.2 |
|Jul 06-10 |5.4 |4 |1.4 |0.8 |
3.2 Rank in the top 5% by Relative Valuation in the NASDAQ market
|Description |Value |Rank |
|EV/EBITDA |25.6 |In Top 5% |
3.3 Uptrend
Beta > 1 combined with price rise. The Beta of the stock is 1.1.
Price/Moving Average Price of 1.33 and positive MACD:
- The price to 200-day MAP ratio is 1.33, a bullish indicator. In the past 200 days this ratio has exceeded 1.33, 36 times suggesting further upside. The stock is trading above both its MAPs and the 50-day MAP of USD334.33 is higher than the 200-day MAP of USD287.71, a bullish indicator. The 200-day MAP has increased to USD287.71. An increase is another bullish indicator.
- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 370.48 minus the 26-day EMA of 356.79 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.
- The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1, four times suggesting further upside. The 50-day EMAP has increased to USD338.55. An increase is another bullish indicator.
Past Month:
- Rises to Falls: In the past month the number of rises outnumbered falls 14:7 or 2:1.
Past Quarter:
In the last three months the stock has hit a new 52-week high twelve times, pointing to a significant uptrend.
Relative Strength (6 months) 82 percentile:
- The stock has a 6-month relative strength of 82 in the NASDAQ market of 2,404 stocks, 34 units and 3 preference stocks which means it is beating 82% of the market.
- A price rise combined with a high relative strength is a bullish signal.
3.4 Undervaluation
Earnings Yield of 3.4% > NASDAQ ave of 3% > Bond Yield of 0.6%:
- Earnings yield of 3.4% is greater than the NASDAQ average earning yield of 3%.
- The earnings yield of 3.4% is 5.5 times the 10-year bond yield of 0.6%.
(All figures in %)
|Earnings Yield |3.4 |
|NASDAQ avg |3 |
|Dividend Yield |0.8 |
|Bond Yield |0.6 |
Dividend Yield > Bond Yield of 0.61%:
The dividend yield of 0.82% is 1.34 times the triple-A bond yield of 0.61%. The times factor of 1.34 is above the benchmark factor of 0.67 times set by Benjamin Graham.
(All figures in %)
|Dividend Yield |0.82 |
|Bond Yield |0.61 |
|Spread |0.21 |
3.5 Other Bullish Signals
- Total Liabilities/EBITDA of 3.8 is less than 5, this compares favourably with the Joseph Piotroski benchmark of 5.
SECTION 4 Ongoing Bullish Parameters
4.1 Past four-years
- Apple rose for a fourth consecutive year. In the past four years it has risen USD292.84 (322.1%).
4.2 Rank in the top 1% by Size in the NASDAQ market
|Description |Value |Rank |
|Ave daily Turnover |USD8.6 billion |In Top 1% |
|MCap |USD1,679.2 billion |In Top 1% |
|Tr 12 months Revenue |USD268 billion |In Top 1% |
4.3 Rank in the top 4% by Performance in the NASDAQ market
|Description |Value |Rank |
|EBITDA Margin % |142 |In Top 4% |
|Net Profit Margin % |119.4 |In Top 4% |
4.4 Rank in the top 7% by Productivity in the NASDAQ market
|Description |Value |Rank |
|Return on Capital Employed [ROCE] % |28.2 |In Top 5% |
|Return on Assets [ROA] % |16.3 |In Top 7% |
4.5 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 20.5%
|TSR % |1 yr |3 yrs |5 yrs |10 yrs |20 yrs |30 yrs |
|AAPL.NASDAQ |93.4 |42.1 |30.4 |29.3 |27.3 |20.6 |
4.6 Present Value of USD1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Best Periods with PVUSD1000 > 1,411
|PVUSD1,000 |3 mo ago |1 yr ago |3 yrs ago |
|AAPL.NASDAQ |USD1,412 |USD1,934 |USD2,900 |
|Computer Integrated Systems sector |USD1,430 |USD1,792 |USD2,218 |
|NASDAQ-100 Index |USD1,308 |USD1,361 |USD1,889 |
4.7 The Best Periods [3 Mo, 1 Yr, 3 Yrs] with Price Change % > 40.7
3-Year price change of 177.7% for Apple outperformed the change of 90.1% in the NASDAQ-100 index for a relative price change of 87.6%.
|Price Change % |Quarter |Year |3 Years |
|Apple |40.8 |91.1 |177.7 |
|Computer Integrated Systems sector |43 |81 |123.2 |
|NASDAQ-100 index |30.5 |37.4 |90.1 |
4.8 Moving Annual Return of 92.6% in the past year:
Moving Annual Return was 92.6% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 35.5%. The Moving Annual Return has been positive in 4 of the last 5 years.
|AAPL |Close (USD) |Dividends (USD) |Capital Gain / (Loss) % |% Yield |Annual Return % |
|Jul 10 |383.77 |3.13 |91.1 |1.6 |92.6 |
|1 Yr ago |200.83 |2.96 |8.3 |1.6 |9.9 |
|2 Yrs ago |185.51 |2.62 |34.2 |1.9 |36.1 |
|3 Yrs ago |138.2 |2.34 |52 |2.6 |54.6 |
|4 Yrs ago |90.93 |2.13 |(17.8) |1.9 |(15.9) |
Close 5 years ago USD110.66
4.9 MCap: 5-Year Increase of USD980 billion
In the past 5 years Market Capitalization has increased by USD979.8 billion (140%) from USD699.4 billion to USD1,679.2 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.
| |Price |MCap (US$ B) |
|Last |USD383.77 |1,679.2 |
|1 Year ago |USD200.83 |935.1 |
|2 Years ago |USD185.51 |936.7 |
|3 Years ago |USD138.20 |751.7 |
|4 Years ago |USD90.93 |529.6 |
|5 Years ago |USD110.66 |699.4 |
4.10 Buybacks and 5-Years Decrease of 24.1% in Total Shares on Issue
In the past 5 years total shares on issue have decreased by 1.5 billion (24.1%) from 6.1 billion to 4.6 billion. Buybacks have averaged 309.9 million shares [5.1%] per financial year. Based on a dynamic start date of 5 years ago, there has been no rise in issued capital over the last 5 years. A reduction in total shares on issue is a favourable indicator in Joseph Piotroski's 9 indicators.
|Period Ending |Total Shares on Issue |FY |Buybacks |Buyback % |
|Sep 28, 2019 |4,617,834,000 |2019 |337,543,000 |6.8% |
|Sep 29, 2018 |4,955,377,000 |2018 |261,865,000 |5% |
|Sep 30, 2017 |5,217,242,000 |2017 |253,578,000 |4.6% |
|Sep 24, 2016 |5,470,820,000 |2016 |282,601,000 |4.9% |
|Sep 26, 2015 |5,753,421,000 |2015 |332,151,000 |5.5% |
|Sep 27, 2014 |6,085,572,000 |2014 |391,748,000 |6% |
|Total | | |1,859,486,000 | |
|Average per FY | | |309,914,333 | |
4.11 Created Market Value [CMV] past 30 yrs of USD1,629.6 billion
- Market Capitalization has increased by USD1,673.7 billion from USD5.4 billion to USD1,679.2 billion in the last 30 years. This increase comprises cumulative retained earnings (RETE) of USD44.1 billion and Created Market Value of USD1,629.6 billion. The Created Market Value multiple, defined by the change in MCap for every USD1 of retained earnings is exemplary at USD37.92.
4.12 Low Debt to Equity (%) and Reducing
The debt to equity ratio of 6.6% is under a safe benchmark figure of 50%. Moreover, it has improved from 11.2% a year ago.
|Years |Debt to Equity (%) |
|Sep 2019 |6.61 |
|Sep 2018 |11.17 |
|Sep 2017 |8.93 |
|Sep 2016 |67.86 |
|Sep 2015 |53.9 |
4.13 A 22.2% Decrease in Insider Selling
In the past 5 years a total of 6,008,049 Apple shares worth USD893.9 million were sold by insiders. Based on a dynamic start date of 5 years ago, insider selling has averaged 1,201,610 shares per year. In the past year, insiders sold 584,715 shares, a decrease of 22.2% from the previous year.
|Year |No. of Shares |Value, USD |
|Jul 10, 2020 |584,715 |130,430,190 |
|1 Yr ago |751,663 |163,520,597 |
|2 Yrs ago |958,962 |159,263,096 |
|3 Yrs ago |2,603,657 |317,701,138 |
|4 Yrs ago |1,109,052 |122,947,225 |
|Total |6,008,049 |893,862,247 |
4.14 Increased VWAP, up 174% in 5 years
In the past five years Volume Weighted Average Price (VWAP) has increased by 173.8% to USD273.33. Based on a dynamic start date of five years ago, there has been no decline in VWAP over the last 5 years.
Past five years, 12 months ended Jul 10 (USD)
|Year |High Price |VWAP |Low Price |
|2020 |385.27 |273.33 |190.31 |
|2019 |228.05 |187.18 |139.19 |
|2018 |189.03 |163.68 |138.39 |
|2017 |150.15 |117.97 |90.68 |
|2016 |122.55 |99.82 |84.14 |
4.15 Increased share turnover, up 100% in 5 years
In the past five years, average daily share turnover has increased 100.3% to USD9.6 billion. This suggests increased liquidity.
Past five years, 12 months ended Jul 10 (USD billion)
|Year |Average Daily Turnover |
|2020 |9.6 |
|2019 |6.1 |
|2018 |4.9 |
|2017 |3.5 |
|2016 |4.8 |
4.16 Satisfies three criteria of Benjamin Graham
- "An earnings-to-price yield of at least twice the triple-A bond"; the stock's earning yield of 3.4% is 5.5 times the triple-A bond yield of 0.6%.
- "A dividend yield of at least two-thirds the triple-A bond yield"; the stock's dividend yield is 1.3 times the triple-A bond yield of 0.6%.
-"Total debt less than tangible book value"; total debt of USD6 billion is less than tangible book value of USD90.5 billion.
4.17 Satisfies 5 out of 9 criteria of Joseph Piotroski [pass mark 5]:
- Positive net income.
- Positive operating cashflow.
- Good quality of earnings [operating cashflow exceeds net income].
- Improvement in current ratio from 1.1 to 1.5.
- Reduction in total shares on issue.
4.18 Year-over-year (%) Change in Dividend:
Quarterly dividend for Q2/2020 was 82.0c, up 6.5% sequentially from 77.0c in Q1/2020. The year-on-year change was up 6.5% from 77.0c in the previous corresponding period Q2/2019.
|Quarter |Q2/2019 |Q1/2020 |Q2/2020 |
|Dividend (USD Cents) |77.0 |77.0 |82.0 |
SECTION 5 Friday's Bearish Signals
5.1 Rank in the bottom 15% by Relative Valuation in the NASDAQ market
|Description |Value |Rank |
|Price to Sales |6.3 |In Bottom 15% |
|Dividend Yield % |0.8% |In Bottom 12% |
|Price to Book Value |18.6 |In Bottom 6% |
5.2 Downtrend
Today's Volatility:
The 0.4% discount to 12-month high of USD385.27 against the 101.7% premium to 12-month low of USD190.31 suggests the climb might be peaking.
5.3 Overvaluation
MCap/Total Assets:
- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 5. Compared with the rest of the market the stock is overvalued and ranks in the bottom quartile of stocks by value of Q Ratio.
5.4 Overbought/Bearish Signals:
- The Relative Strength Index (RSI) of 73.5 has penetrated the overbought line of 70, suggesting the price gain of 6.9% in the last 14 days is unusually high.
- The stock is overbought according to the Williams % R indicator of -4.4, suggesting the price is close to its 14-day high of USD385.27.
SECTION 6 Ongoing Bearish Parameters
6.1 Past 4 Quarters Sequential EPS growth averaged 11.0%:
The most recent quarter (Q2/2020) showed a decline of 48.8% in sequential growth of Quarterly EPS. There have been two rises and two declines in the past 4 quarters. Average quarterly growth in the past 4 quarters was impressive at 11.0%.
|Quarterly Report |EPS (USD) |Growth % |
|Q2/2020 |2.58 |-48.8 |
|Q1/2020 |5.04 |63.6 |
|Q4/2019 |3.08 |40.0 |
|Q3/2019 |2.2 |-10.9 |
6.2 EPS growth [FY2019 vs FY2018] of -0.3%:
There have been three rises and two declines in the past 5 years. Average Annual Compounded rate of growth in EPS for the 5 years was impressive at 13.0%.
|FY |EPS (USD) |Growth % |
|2019 |11.97 |-0.3 |
|2018 |12.01 |29.6 |
|2017 |9.27 |11.0 |
|2016 |8.35 |-10.0 |
|2015 |9.28 |43.0 |
6.3 % Growth in EPS & RPS
EPS growth: Sequential EPS growth (Q2 vs Q1, 2020) was down 48.8% and PCP EPS growth (Q2 2020 vs Q2 2019) was up 4.5%. FY EPS growth (FY2019 vs FY2018) was down 0.3%.
RPS growth: Sequential growth in Revenue per share (Q2 vs Q1, 2020) was up 6.2% and PCP growth in Revenue per share (Q2 2020 vs Q2 2019) was up 24.5%. FY growth in Revenue per share (FY2019 vs FY2018) was up 5.4%.
(All figures in %)
|Sequential growth in EPS (Q2 vs Q1, 2020) |-48.8 |
|Sequential growth in RPS (Q2 vs Q1, 2020) |6.2 |
|PCP growth in EPS (Q2 2020 vs Q2 2019) |4.5 |
|PCP growth in RPS (Q2 2020 vs Q2 2019) |24.5 |
|FY growth in EPS (FY2019 vs FY2018) |-0.3 |
|FY growth in RPS (FY2019 vs FY2018) |5.4 |
6.4 Declining Volume, down 24% in 5 years
In the past five years, Average Daily Volume of Trading (ADVT) has decreased 24.3% to 36 million shares.
Avg. Daily Volume Traded 12 months ended Jul 10, million shares
|Year |ADVT |
|2020 |36.0 |
|2019 |32.3 |
|2018 |29.5 |
|2017 |29.3 |
|2016 |47.6 |
6.5 Decrease in Institutional Ownership down from 59.9% to 57.5%
As at March 31, 2020 Institutions held 57.5% of total shares on issue; a decrease from 59.9% as at December 31, 2019.
|Quarter-end |December 31, 2019 |March 31, 2020 |
|Holdings (%) |59.9 |57.5 |
6.6 Quarterly Trend in Revenue, Net Profit and Net Profit Margin:
- Revenue and Net Profit growth have shown signs of deterioration in recent quarters. [All figures in %]
|Qtr-ended |Revenue Growth |Net Profit Growth |Net Profit Margin |
|Mar 20 [Q2 vs Q1] |-36.5 |-49.4 |84.3 |
|Dec 19 [Q1 vs Q4] |43.4 |62.5 |174.9 |
SECTION 7 Insider Selling and Ownership
7.1 Insider Ownership Summary
|Name |Shares Held |Value, USD |
|Timothy D. Cook |2,667,969 |1,023,886,463 |
|Arthur D. Levinson |1,148,137 |440,620,536 |
|Jeff Williams |122,315 |46,940,828 |
|Katherine Adams |37,009 |14,202,944 |
|Luca Maestri |27,568 |10,579,771 |
|Ronald D. Sugar |854 |327,740 |
|Albert A. Gore Jr. |854 |327,740 |
|James A. Bell |854 |327,740 |
|Total |4,005,560 |1,537,213,761 |
7.2 Insider selling Summary in the past 12 months
|Name |No. of Shares |Price, USD |Value, USD |
|Cook Timothy D [CEO] |265,160 |206.2 |54,667,179.4 |
|Williams Jeffrey E [COO] |108,616 |227.5 |24,711,190.8 |
|Maestri Luca [CFO] |102,721 |242.8 |24,940,124.9 |
|Levinson Arthur D [Chairman] |73,823 |235.0 |17,349,297.5 |
|Total |550,320 |221.1 |121,667,792.6 |
7.3 Cook Timothy D [CEO] Reported Selling In The Past 12 Months
|Month |No. of Shares |Price, USD |Value, USD |
|August 27, 2019 |265160 |206.2 |54,667,179.4 |
7.4 Williams Jeffrey E [COO] Reported Selling In The Past 12 Months
In the past year shares sold per month averaged 9,051.
|Month |No. of Shares |Price, USD |Value, USD |
|April 03, 2020 |41062 |241.4 |9,914,186.3 |
|October 03, 2019 |67554 |219.0 |14,797,004.5 |
|Total: Williams Jeffrey E |108,616 |227.5 |24,711,190.8 |
7.5 Maestri Luca [CFO] Reported Selling In The Past 12 Months
In the past year shares sold per month averaged 8,560.
|Month |No. of Shares |Price, USD |Value, USD |
|April 09, 2020 |41062 |264.4 |10,858,444.6 |
|October 09, 2019 |61659 |228.4 |14,081,680.3 |
|Total: Maestri Luca |102,721 |242.8 |24,940,124.9 |
7.6 Levinson Arthur D [Chairman] Reported Selling In The Past 12 Months
In the past year shares sold per month averaged 6,152.
|Month |No. of Shares |Price, USD |Value, USD |
|February 04, 2020 |1429 |304.1 |434,573.2 |
|November 07, 2019 |37394 |257.8 |9,639,799.3 |
|Aug '19 |35000 |207.9 |7,274,925.0 |
|Total: Levinson Arthur D |73,823 |235.0 |17,349,297.5 |
SECTION 8 Corporate Bonds
Quarterly Trend
8.1 Short-Term Bonds Yield down 41 basis points in the past quarter
Short-Term Apple corporate bond yields (CUSIP: 037833AK6), maturing in 2 years 9 months have decreased from 0.79% to 0.38% in the past quarter. Over the same period, spread with treasury has decreased 27 basis points.
Medium-Term Bonds Yield down 37 basis points in the past quarter
Medium-Term Apple corporate bond yields (CUSIP: 037833CR9), maturing in 6 years 10 months have decreased from 1.42% to 1.05% in the past quarter. Over the same period, spread with treasury has decreased 23 basis points.
For Company searches and sorting by bonds and variables, an interactive version of current day's Table is available here:/home/jboss/jboss-3.2.7/server/default/deploy/BuySellSignals.war/report/Usnasdaq/Stock/quarterly/BondTable_7.html
8.2 Time [Yrs Mo Days] and Yield to Maturity as on Jul 10, 2020
|CUSIP |Time to Maturity |Yld (%) |Treasury (%) |
|Feb to Aug 2021 |0.2 to 0.63 |0.62 to 1.07 |-0.24 to 0.41 |
|Feb to May 2022 |0.29 to 0.35 |1.58 to 1.84 |-1.05 to 0.19 |
|Feb to May 2023 |0.37 to 0.38 |2.62 to 2.82 |-0.43 to 0.77 |
|Feb to May 2024 |0.53 to 0.6 |3.58 to 3.84 |0.13 to 0.77 |
|Feb to May 2025 |0.64 to 0.67 |4.58 to 4.84 |1.69 to 1.82 |
|Feb to Aug 2026 |0.79 to 0.81 |5.62 to 6.07 |1.85 to 2.25 |
|Feb to May 2027 |0.99 to 1.05 |6.58 to 6.84 |1.86 to 3.43 |
|Feb 2036 |1.63 |15.62 |7.96 |
8.4 Yield Curve - Apple Bond vs US Treasury
|Years to Maturity |Apple Bond Yield (%) |Treasury Yield (%) |Spread to Treasury(Basis Points) |
|1 |0.24 |0.15 |9 |
|2 |0.35 |0.15 |20 |
|3 |0.38 |0.18 |20 |
|5 |0.67 |0.28 |39 |
|7 |1.05 |0.46 |59 |
The yield curve is upward sloping which is typical. The term premium between the yield of a 7-year Apple Inc. bond of 1.05% and the yield of a 1 year bond of 0.24% is 0.81%. Further, the yield curve is flattening from a term premium of 0.84% a month ago to a current level of 0.81%. This indicates investor expectations of falling inflation and/or decreasing demand for longer-term bonds. In comparison, the term premium of Treasury is 0.31%, down from 0.35% a month ago.
SECTION 9 Patents
9.1 Number of Patents Issued to Apple by the US Patent Office and the European Patent Office (Past 12 Months)
There were a total of 2,928 patents issued to Apple in the past 12 months. The highest number (331) were issued in March, 2020.
|Month |No. of Patents Issued |
|July |78 |
|June |310 |
|May |262 |
|April |248 |
|March |331 |
|February |253 |
|January |191 |
|December |266 |
|November |226 |
|October |278 |
|September |257 |
|August |228 |
|Total (Past 12 Months) |2,928 |
9.2 Rank by patents issued in the past 12 months: Apple vs NASDAQ stocks
Apple's ranked 1 by US Patents issued in the past year out of 2,435 NASDAQ listed companies. A total of 31,410 US patents were issued to NASDAQ listed companies in the past year, an average of 12.9 patents per company. Apple received 2,715 US Patents in the past 12 months, 210 times average.
9.3 Patents issued to Apple by the US PTO and the EPO on same inventions in the past year
In the past 12 months 67 patents were issued by the USPTO and the European Patent Office (EPO) to Apple.
To view details, click on the "Patent No." link
|Title |US PTO |EPO |
|Accelerated Task Performance |10,504,518; 10 Dec, 2019|EP3674922 (A1); 01 Jul, 2020 |
|Accessing Memories In Coherent And Non-Coherent Domains In A Computing System|10,402,326; 03 Sep, 2019|US10402326 (B1); 03 Sep, 2019 |
|Accessory Management System Using Environment Model |10,454,783; 22 Oct, 2019|EP3537238 (A1); 11 Sep, 2019 |
|Adaptive Power Equalization In Electrical Balance Duplexers |10,530,615; 07 Jan, 2020|US10530615 (B1); 07 Jan, 2020 |
|Audio Data Routing Between Multiple Wirelessly Connected Devices |10,554,800; 04 Feb, 2020|EP3675520 (A2); 01 Jul, 2020 |
|Avatar Creation User Interface |10,580,221; 03 Mar, 2020|EP3584679 (A1); 25 Dec, 2019 |
|Backlights With Dynamic Dimming Ranges |10,665,181; 26 May, 2020|DE112018003379 (T5); 12 Mar, |
| | |2020 |
|Content Notification System And Method |10,405,044; 03 Sep, 2019|US10405044 (B1); 03 Sep, 2019 |
|Dc-Dc Converter With A Dynamically Adapting Load-Line |10,644,592; 05 May, 2020|GB2578007 (A); 15 Apr, 2020 |
|Devices And Methods For Capturing And Interacting With Enhanced Digital |10,455,146; 22 Oct, 2019|EP3591953 (A1); 08 Jan, 2020 |
|Images | | |
|Devices, Methods, And Graphical User Interfaces For Haptic Mixing |10,528,139; 07 Jan, 2020|EP3531250 (A1); 28 Aug, 2019 |
|Devices, Methods, And Graphical User Interfaces For Manipulating User |10,698,598; 30 Jun, 2020|EP3591504 (A1); 08 Jan, 2020 |
|Interface Objects With Visual And/Or Haptic Feedback | | |
|Devices, Methods, And Graphical User Interfaces For Providing Haptic Feedback|10,692,333; 23 Jun, 2020|EP3674871 (A1); 01 Jul, 2020 |
|Different Sector Rotation Speeds For Post-Amble Processing Of A Beam Forming |10,693,545; 23 Jun, 2020|DE112018005020 (T5); 09 Jul, |
|Packet | |2020 |
|Display Module And System Applications |10,535,642; 14 Jan, 2020|EP3521972 (A1); 07 Aug, 2019 |
|Downshift Techniques For Oscillator With Feedback Loop |10,630,300; 21 Apr, 2020|US2019273503 (A1); 05 Sep, 2019 |
|Dual Protocol Wireless Power System |10,637,301; 28 Apr, 2020|DE112018004188 (T5); 07 May, |
| | |2020 |
|Earbud Case With Pairing Button |10,681,446; 09 Jun, 2020|EP3567870 (A2); 13 Nov, 2019 |
|Electronic Device Antenna Arrays Mounted Against A Dielectric Layer |10,608,344; 31 Mar, 2020|GB2573882 (A); 20 Nov, 2019 |
|Electronic Device Slot Antennas |10,658,749; 19 May, 2020|DE112018004931 (T5); 10 Jun, |
| | |2020 |
|Electronic Devices Having Antenna Diversity Capabilities |10,355,344; 16 Jul, 2019|US10355344 (B1); 16 Jul, 2019 |
|Electronic Devices With Ambient Light Sensors |10,553,179; 04 Feb, 2020|DE112018004941 (T5); 09 Jul, |
| | |2020 |
|Emoji Recording And Sending |10,521,948; 31 Dec, 2019|EP3570251 (A1); 20 Nov, 2019 |
|Fabric-Based Items With Electrical Component Arrays |10,553,540; 04 Feb, 2020|US10553540 (B2); 04 Feb, 2020 |
|Fabrics With Conductive Paths |10,400,364; 03 Sep, 2019|US10400364 (B1); 03 Sep, 2019 |
|Handwriting Keyboard For Screens |10,466,895; 05 Nov, 2019|EP3557389 (A1); 23 Oct, 2019 |
|Haptic Engine Having Moving Coil Structure Powered By Suspended Flexible |10,453,315; 22 Oct, 2019|US10453315 (B1); 22 Oct, 2019 |
|Printed Circuit With Multiple Traces | | |
|Indirect Authentication |10,484,384; 19 Nov, 2019|EP3579132 (A1); 11 Dec, 2019 |
|Intelligent Presentation Of Documents |10,354,004; 16 Jul, 2019|EP3588410 (A1); 01 Jan, 2020 |
|Led Sidewall Processing To Mitigate Non-Radiative Recombination |10,418,519; 17 Sep, 2019|US2020052158 (A1); 13 Feb, 2020 |
|Mandrel Flex Circuit Routing |10,635,141; 28 Apr, 2020|EP3579079 (A1); 11 Dec, 2019 |
|Mechanism For Retrieval Of Previously Captured Audio |10,452,339; 22 Oct, 2019|EP3651012 (A1); 13 May, 2020 |
|Metadata For Loudness And Dynamic Range Control |10,644,666; 05 May, 2020|EP3540733 (A1); 18 Sep, 2019 |
|Method And An Apparatus For Determining A Gaze Point On A Three-Dimensional |10,699,439; 30 Jun, 2020|US2019272650 (A1); 05 Sep, 2019 |
|Object | | |
|Method And System For Representing A Virtual Object In A View Of A Real |10,417,824; 17 Sep, 2019|EP3629303 (A1); 01 Apr, 2020 |
|Environment | | |
|Methods And Apparatus For Optimizing Paging Mechanisms Using Device Context |10,568,068; 18 Feb, 2020|EP3651513 (A1); 13 May, 2020 |
|Information | | |
|Methods, Procedures And Framework To Provision An Esim And Make It Multi-Sim |10,470,016; 05 Nov, 2019|EP3579590 (A1); 11 Dec, 2019 |
|Capable Using Primary Account Information | | |
|Mixed Input Lighting Using Multiple Light Sources With Switchable Operational|10,528,152; 07 Jan, 2020|US10528152 (B1); 07 Jan, 2020 |
|State | | |
|Mobile Zoom Using Multiple Optical Image Stabilization Cameras |10,382,698; 13 Aug, 2019|EP3591958 (A1); 08 Jan, 2020 |
|Multi-Band Millimeter Wave Antenna Arrays |10,658,762; 19 May, 2020|DE112018003622 (T5); 02 Jul, |
| | |2020 |
SECTION 10 Apple Board of Directors
10.1 Board and Management
|Name |Designation |Since Appointment |
|Timothy D. Cook |Chief Executive Officer, Director |8 Yrs, 10 Mos |
|Arthur D. Levinson |Chairman, Director |19 Yrs, 11 Mos |
|Luca Maestri |Chief Financial Officer, Senior Vice President |6 Yrs, 1 Mo |
|Sue Wagner |Director |- |
|Andrea Jung |Director |- |
|Ronald D. Sugar |Director |9 Yrs, 7 Mos |
|Albert A. Gore Jr. |Director |- |
|James A. Bell |Director |4 Yrs, 9 Mos |
|Jeff Williams |Chief Operating Officer |4 Yrs, 6 Mos |
|Katherine Adams |Company Secretary, Senior Vice President, General Counsel |- |
10.2 Profiles
Timothy D. Cook
CEO & Director
Tim Cook, 59, has been Apple's Chief Executive Officer since August 2011 and was previously Apple's Chief Operating Officer since October 2005.
Mr. Cook joined Apple in March 1998 and served as Executive Vice President, Worldwide Sales and Operations from February 2002 to October 2005. From October 2000 to February 2002, Mr. Cook served as Senior Vice President, Worldwide Operations, Sales, Service and Support. From March 1998 to October 2000, Mr. Cook served as Senior Vice President, Worldwide Operations.
Among other qualifications, Mr. Cook brings to the Board extensive executive leadership experience in the technology industry, including the management of worldwide operations, sales, service, and support.
Other Current Public Company Directorships
NIKE, Inc.
Selected Directorships and Memberships
Board of Directors, The National Football Foundation & College Hall of Fame, Inc.
Board of Trustees, Duke University
Leadership Council, Malala Fund
Shareholder Value:
Creation of shareholder value in Apple:
Date of appointment: August 24, 2011
In the last 5 years the average annualized return to shareholders was 30.4%. The present value of USD1,000 (PV1000) invested 5 years ago is now USD3,776, a gain of USD2,468 and dividend reinvested of USD308.
Arthur D. Levinson
Chairman & Director
Art Levinson, 69, has served as the Chief Executive Officer of Calico, a company focused on health, aging, and well-being, since September 2013.
Dr. Levinson previously served as Chief Executive Officer of Genentech, Inc., a medical drug developer, from July 1995 to April 2009, and served as Genentech's Chairman from September 1999 to September 2014.
Among other qualifications, Dr. Levinson brings to the Board executive leadership experience, including his service as a chairman and chief executive officer of a large international public company, along with extensive financial expertise and brand marketing experience.
Selected Directorships and Memberships
Board of Directors, Broad Institute of Harvard and MIT
Board of Scientific Consultants, Memorial Sloan Kettering Cancer Center
Industrial Advisory Board, California Institute for Quantitative Biomedical Research
Advisory Council, Lewis-Sigler Institute for Integrative Genomics
Advisory Council, Princeton University Department of Molecular Biology
Science Advisory Board, Chan Zuckerberg Initiative
Shareholder Value:
Creation of shareholder value in Apple:
Date of appointment: August 15, 2000
In the last 10 years the average annualized return to shareholders was 29.3%. The present value of USD1,000 (PV1000) invested 10 years ago is now USD13,072, a gain of USD10,953 and dividend reinvested of USD1,119.
Luca Maestri
CFO & Senior Vice President
Mr. Maestri, 56, oversees Apple's accounting, business support, financial planning and analysis, treasury, real estate, investor relations, internal audit, and tax functions.
Luca joined Apple in March 2013 and assumed his current position in May 2014, after previously serving as Apple's Vice President and Corporate Controller. Prior to joining Apple, Luca was Executive Vice President, Chief Financial Officer of Xerox Corporation, a business services and technology company, from February 2011 to February 2013; Chief Financial Officer at Nokia Siemens Networks; and had a 20-year career with General Motors Corporation, including serving as Chief Financial Officer of GM Europe and GM Brazil.
Shareholder Value:
Creation of shareholder value in Apple:
Date of appointment: May 29, 2014
In the last 5 years the average annualized return to shareholders was 30.4%. The present value of USD1,000 (PV1000) invested 5 years ago is now USD3,776, a gain of USD2,468 and dividend reinvested of USD308.
Ronald D. Sugar
Director
Ron Sugar, 71, is the retired Chairman of the Board and Chief Executive Officer of Northrop Grumman Corporation, a global security company. Dr. Sugar served in this role from April 2003 to June 2010 and served as President and Chief Operating Officer from 2001 to 2003. Previous to Northrop Grumman, he held executive positions at Litton Industries and TRW Inc., where he served as Chief Financial Officer.
Among other qualifications, Dr. Sugar brings to the Board executive leadership experience as a chairman and chief executive officer of a large international public company, financial expertise as a former chief financial officer, understanding of advanced technology, experience with government relations and public policy, and a global business perspective from his service on other boards.
Other Current Public Company Directorships*
Air Lease Corporation
Amgen Inc.
Chevron Corporation
Uber Technologies, Inc.
Selected Directorships and Memberships
Member, National Academy of Engineering
Board of Trustees, University of Southern California
Board of Directors, Los Angeles Philharmonic Association
Shareholder Value:
Creation of shareholder value in Apple:
Date of appointment: November 17, 2010
In the last 5 years the average annualized return to shareholders was 30.4%. The present value of USD1,000 (PV1000) invested 5 years ago is now USD3,776, a gain of USD2,468 and dividend reinvested of USD308.
Albert A. Gore Jr.
Director
Al Gore, 71, has served as Chairman of Generation Investment Management, an investment management firm, since 2004, and as a partner of Kleiner Perkins Caufield & Byers, a venture capital firm, since November 2007.
Mr. Gore is also Chairman of The Climate Reality Project.
Mr. Gore was elected to the U.S. House of Representatives four times, to the U.S. Senate two times, and served two terms as Vice President of the United States.
Among other qualifications, Mr. Gore brings to the Board executive leadership experience, a valuable and different perspective due to his extensive background in digital communication and technology policy, politics, and environmental rights, along with experience in asset management and venture capital.
James A. Bell
Director
James Bell, 71, is the retired Executive Vice President, Corporate President and Chief Financial Officer of The Boeing Company, an aerospace company. Mr. Bell served in this role from June 2008 to April 2012, having previously served as Executive Vice President, Finance and Chief Financial Officer from November 2003 to June 2008, and as Senior Vice President of Finance and Corporate Controller from October 2000 to November 2003. From 1992 to 2000, Mr. Bell held a series of positions with increasing responsibility at Boeing.
Among other qualifications, Mr. Bell brings to the Board financial and accounting expertise as a former chief financial officer of a large international public company, experience in strategic planning and leadership of complex organizations, and a global business perspective from his service on other boards.
Other Current Public Company Directorships
JPMorgan Chase & Co.
CDW Corporation
Dow Inc.
Selected Directorships and Memberships
Board of Trustees, Rush University Medical Center
Former Public Company Directorships Within the Last Five Years
DowDupont Inc.
Shareholder Value:
Creation of shareholder value in Apple:
Since appointment as Director: The present value of USD1,000 invested on the appointment date of October 01, 2015 at close price of USD101.45 is USD4,099, including a capital gain of USD2,783 and dividend reinvested of USD316.
Sue Wagner
Director
Sue Wagner, 57, is a co-founder of BlackRock, Inc., an asset management company. Ms. Wagner served as BlackRock's Vice Chairman from January 2006 until her retirement in July 2012, and also served as a member of BlackRock's Global Executive Committee and Global Operating Committee. During her tenure at BlackRock, Ms. Wagner served as BlackRock's Chief Operating Officer and Head of Corporate Strategy, and led the alternative investments and international client businesses.
Among other qualifications, Ms. Wagner brings to the Board operational experience, including her service as chief operating officer of a large multinational public company, along with extensive financial expertise and experience in the financial services industry, and a global business perspective from her service on other boards.
Other Current Public Company Directorships
BlackRock, Inc.
Swiss Re
Selected Directorships and Memberships
Board of Directors, Color Genomics, Inc.
Board of Trustees, Wellesley College
Andrea Jung
Director
Andrea Jung, 61, has served as the President and Chief Executive Officer of Grameen America LLC, a nonprofit microfinance organization, since April 2014, where she also serves on the Board of Directors.
Ms. Jung previously served as Executive Chairman of Avon Products, Inc., a personal care products company, from April 2012 to December 2012, and as Chairman of the Board of Avon from September 2001 to April 2012. Ms. Jung served as Chief Executive Officer of Avon from November 1999 to April 2012, and served as a member of the Board of Avon from January 1998 to December 2012.
Among other qualifications, Ms. Jung brings to the Board executive leadership experience, including her service as a chairman and chief executive officer of a large international public company, along with extensive brand marketing and consumer products experience, and a global business perspective from her service on other boards.
Other Current Public Company Directorships
Unilever PLC and Unilever N.V.
Wayfair Inc.
Selected Directorships and Memberships
Board of Directors, Rockefeller Capital Management
Board of Directors, JUST Capital
Former Public Company Directorships Within the Last Five Years
Daimler AG
General Electric Company
Jeff Williams
Chief Operating Officer
Mr. Williams, 56, oversees Apple's entire supply chain, service and support, and social responsibility initiatives for Apple's supply chain. He also oversees the development of Apple Watch and drives the company's health initiatives.
Jeff joined Apple in June 1998 and assumed his current position in December 2015. Jeff's previous positions with Apple include Senior Vice President, Operations and Head of Worldwide Procurement. Prior to joining Apple, Jeff worked in a number of operations and engineering roles at IBM from 1985 to 1998.
Shareholder Value:
Creation of shareholder value in Apple:
Since appointment as COO: The present value of USD1,000 invested on the appointment date of December 17, 2015 at close price of USD101.32 is USD4,085, including a capital gain of USD2,788 and dividend reinvested of USD297.
Katherine Adams
Company Secretary & Senior Vice President
Kate Adams is Apple's general counsel and senior vice president of Legal and Global Security, reporting to CEO Tim Cook. Kate serves on the company's executive team and oversees all legal matters, including corporate governance, intellectual property, litigation and securities compliance, global security and privacy. Kate joined Apple from Honeywell in 2017, where she worked for 14 years, most recently as senior vice president and general counsel. At Honeywell, Kate was in charge of the organization's global legal strategy across more than 100 countries.
Prior to joining Honeywell, Kate was a partner at Sidley Austin LLP in New York. Earlier in her career, she served as a law clerk for Supreme Court Justice Sandra Day O'Connor; as trial attorney for the United States Department of Justice, Appellate Section, Environment and Natural Resources division; and as law clerk for Stephen Breyer, then chief judge of the U.S. Court of Appeals for the First Circuit.
Kate earned a bachelor's degree in Comparative Literature from Brown University and a law degree from the University of Chicago Law School.
SECTION 11 Tax & Dividend
11.1 Average Income Tax Paid (Past 5 Years)
In the past 5 years, Income Tax as % of profit before tax decreased from 26.4% to 15.9% and Income Tax as % of operating cash flow decreased from 26.4% to 15.9%.
|Description |2019 |2018 |
|Apple Sales International |Ireland |12.5 |
|Apple Operations International |Ireland |12.5 |
|Apple Operations Europe |Ireland |12.5 |
11.3 Dividend History
In the past 5 years annual dividends have increased by 100.0c from 213.0c to 313.0c. Based on a start date of 5 years ago, there has been no decline in dividends over the last 5 years.
|Date |Value (c) |Type |
|08 May 2020 |82 |Quarterly |
|07 Feb 2020 |77 |Quarterly |
|07 Nov 2019 |77 |Quarterly |
|09 Aug 2019 |77 |Quarterly |
|Tr 12 Months |313 | |
|10 May 2019 |77 |Quarterly |
|08 Feb 2019 |73 |Quarterly |
|08 Nov 2018 |73 |Quarterly |
|10 Aug 2018 |73 |Quarterly |
|2018 - 2019 |296 | |
|11 May 2018 |73 |Quarterly |
|09 Feb 2018 |63 |Quarterly |
|10 Nov 2017 |63 |Quarterly |
|10 Aug 2017 |63 |Quarterly |
|2017 - 2018 |262 | |
|11 May 2017 |63 |Quarterly |
|09 Feb 2017 |57 |Quarterly |
|03 Nov 2016 |57 |Quarterly |
|04 Aug 2016 |57 |Quarterly |
|2016 - 2017 |234 | |
|05 May 2016 |57 |Quarterly |
|04 Feb 2016 |52 |Quarterly |
|05 Nov 2015 |52 |Quarterly |
|06 Aug 2015 |52 |Quarterly |
|2015 - 2016 |213 | |
SECTION 12 Financials Q2 2020, FY 2019
12.1 Quarterly Report (Q2/2020): Key Parameters
Apple EPS slumps 49%
Release Date: May 01, 2020
Apple (NASDAQ:AAPL), announced EPS of $US2.58 for the quarter-ended 28 March 2020 [Q2/2020], down 48.8% sequentially from $US5.04 in the previous quarter [Q1/2020].
|Quarter-ended |28 Mar [Q2/2020] |28 Dec [Q1/2020] |28 Sep [Q4/2019] |
|EPS, $US |2.6 |5.0 |3.1 |
|Sequential growth in EPS % |-48.8 |64 |40.0 |
|Revenue, $US billion |58.3 |91.8 |64.0 |
|Sequential growth in Revenue % |-36.5 |43.4 |19.0 |
|Net Profit, $US billion |11.2 |22.2 |13.7 |
|Sequential growth in Net Profit % |-49.4 |62 |36.3 |
Compared with the previous corresponding period [PCP; Q2/2019], year-over-year [y.o.y.] EPS was up 4.5%, Revenue was up 0.5% and Net Profit was down 2.7%.
|Quarter-ended |28 Mar [Q2/2020] |30 Mar [Q2/2019] |
|EPS, $US |2.6 |2.5 |
|PCP growth in EPS % |4.5 |-10.2 |
|Revenue, $US billion |58.3 |58.0 |
|PCP growth in Revenue % |0.5 |-5.1 |
|Net Profit, $US billion |11.2 |11.6 |
|PCP growth in Net Profit % |-2.7 |-16.4 |
12.2 Financial Results as reported (Q2/2020)
SEC FILING 10-Q RESULTS OF OPERATIONS AND FINANCIAL CONDITION
(In $US Million, except per share data and shares outstanding)
INCOME STATEMENT AS REPORTED (Q2/2020)
|Description |$US Million |$US Million | |
| |Mar 28, 2020 |Mar 30, 2019 |Change % |
|Net sales: | | | |
|Products |44,965 |46,565 |Down 3.4 |
|Services |13,348 |11,450 |Up 16.6 |
|Total net sales |58,313 |58,015 |Up 0.5 |
|Cost of sales: | | | |
|Products |31,321 |32,047 |Down 2.3 |
|Services |4,622 |4,147 |Up 11.5 |
|Total cost of sales |35,943 |36,194 |Down 0.7 |
|Gross margin |22,370 |21,821 |Up 2.5 |
|Operating expenses: | | | |
|Research and development |4,565 |3,948 |Up 15.6 |
|Selling, general and administrative |4,952 |4,458 |Up 11.1 |
|Total operating expenses |9,517 |8,406 |Up 13.2 |
|Operating income |12,853 |13,415 |Down 4.2 |
|Other income/(expense), net |282 |378 |Down 25.4 |
|Income before provision for income taxes |13,135 |13,793 |Down 4.8 |
|Provision for income taxes |1,886 |2,232 |Down 15.5 |
|Net income |11,249 |11,561 |Down 2.7 |
|Earnings per share: | | | |
|Basic |USD2.58 |USD2.47 |Up 4.5 |
|Diluted |USD2.55 |USD2.46 |Up 3.7 |
|Shares used in computing earnings per share: | | | |
|Basic |4,360,000,000 |4,670,000,000 |Down 6.6 |
|Diluted |4,400,000,000 |4,700,000,000 |Down 6.4 |
|Net income |11,249 |11,561 |Down 2.7 |
|Other comprehensive income/(loss): | | | |
|Change in foreign currency translation, net of tax |-566 |174 |Deterioration |
|Change in unrealized gains/losses on derivative instruments, net of tax: | | | |
|Change in fair value of derivatives |-143 |-50 |Deterioration 186.0 |
|Adjustment for net (gains)/losses realized and included in net income |634 |-105 |Recovery |
|Total change in unrealized gains/losses on derivative instruments |491 |-155 |Recovery |
|Change in unrealized gains/losses on marketable debt securities, net of | | | |
|tax: | | | |
|Change in fair value of marketable debt securities |-2,325 |2,042 |Deterioration |
|Adjustment for net (gains)/losses realized and included in net income |29 |28 |Up 3.6 |
|Total change in unrealized gains/losses on marketable debt securities |-2,296 |2,070 |Deterioration |
|Total other comprehensive income/(loss) |-2,371 |2,089 |Deterioration |
|Total comprehensive income |8,878 |13,650 |Down 35.0 |
BALANCE SHEET AS REPORTED (Q2/2020)
|Description |$US Million |$US Million | |
| |Mar 28, 2020 |Sep 28, 2019|Change % |
|ASSETS: | | | |
|Current assets: | | | |
|Cash and cash equivalents |40,174 |48,844 |Down 17.8 |
|Marketable securities |53,877 |51,713 |Up 4.2 |
|Accounts receivable, net |15,722 |22,926 |Down 31.4 |
|Inventories |3,334 |4,106 |Down 18.8 |
|Vendor non-trade receivables |14,955 |22,878 |Down 34.6 |
|Other current assets |15,691 |12,352 |Up 27.0 |
|Total current assets |143,753 |162,819 |Down 11.7 |
|Non-current assets: | | | |
|Marketable securities |98,793 |105,341 |Down 6.2 |
|Property, plant and equipment, net |35,889 |37,378 |Down 4.0 |
|Other non-current assets |41,965 |32,978 |Up 27.3 |
|Total non-current assets |176,647 |175,697 |Up 0.5 |
|Total assets |320,400 |338,516 |Down 5.4 |
|LIABILITIES AND SHAREHOLDERS' EQUITY: | | | |
|Current liabilities: | | | |
|Accounts payable |32,421 |46,236 |Down 29.9 |
|Other current liabilities |37,324 |37,720 |Down 1.0 |
|Deferred revenue |5,928 |5,522 |Up 7.4 |
|Commercial paper and repurchase agreement |10,029 |5,980 |Up 67.7 |
|Term debt |10,392 |10,260 |Up 1.3 |
|Total current liabilities |96,094 |105,718 |Down 9.1 |
|Non-current liabilities: | | | |
|Term debt |89,086 |91,807 |Down 3.0 |
|Other non-current liabilities |56,795 |50,503 |Up 12.5 |
|Total non-current liabilities |145,881 |142,310 |Up 2.5 |
|Total liabilities |241,975 |248,028 |Down 2.4 |
|Commitments and contingencies | | | |
|Shareholders' equity: | | | |
|Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares |48,032 |45,174 |Up 6.3 |
|authorized; 4,323,987 and 4,443,236 shares issued and outstanding, respectively | | | |
|Retained earnings |33,182 |45,898 |Down 27.7 |
|Accumulated other comprehensive income/(loss) |-2,789 |-584 |Deterioration 377.6 |
|Total shareholders' equity |78,425 |90,488 |Down 13.3 |
|Total liabilities and shareholders' equity |320,400 |338,516 |Down 5.4 |
CASH FLOW AS REPORTED (Q2/2020)
|Description |$US Million |$US Million | |
| |Mar 28, 2020 |Mar 30, 2019 |Change % |
|Cash, cash equivalents and restricted cash, beginning balances |50,224 |25,913 |Up 93.8 |
|Operating activities: | | | |
|Net income |33,485 |31,526 |Up 6.2 |
|Adjustments to reconcile net income to cash generated by operating activities: | | | |
|Depreciation and amortization |5,602 |6,435 |Down 12.9 |
|Share-based compensation expense |3,407 |3,073 |Up 10.9 |
|Deferred income tax benefit |-651 |-124 |Deterioration 425.0 |
|Other |-259 |-215 |Deterioration 20.5 |
|Changes in operating assets and liabilities: | | | |
|Accounts receivable, net |7,284 |8,094 |Down 10.0 |
|Inventories |699 |-1,006 |Recovery |
|Vendor non-trade receivables |7,923 |14,616 |Down 45.8 |
|Other current and non-current assets |-8,866 |-717 |Deterioration 1,136.5 |
|Accounts payable |-13,520 |-20,024 |Improved 32.5 |
|Deferred revenue |1,223 |-540 |Recovery |
|Other current and non-current liabilities |7,500 |-3,273 |Recovery |
|Cash generated by operating activities |43,827 |37,845 |Up 15.8 |
|Investing activities: | | | |
|Purchases of marketable securities |-66,489 |-13,854 |Deterioration 379.9 |
|Proceeds from maturities of marketable securities |39,738 |16,880 |Up 135.4 |
|Proceeds from sales of marketable securities |27,762 |22,635 |Up 22.7 |
|Payments for acquisition of property, plant and equipment |-3,960 |-5,718 |Improved 30.7 |
|Payments made in connection with business acquisitions, net |-1,134 |-291 |Deterioration 289.7 |
|Purchases of non-marketable securities |-146 |-490 |Improved 70.2 |
|Other |-426 |30 |Deterioration |
|Cash generated by/(used in) investing activities |-4,655 |19,192 |Deterioration |
|Financing activities: | | | |
|Proceeds from issuance of common stock |430 |390 |Up 10.3 |
|Payments for taxes related to net share settlement of equity awards |-1,566 |-1,427 |Deterioration 9.7 |
|Payments for dividends and dividend equivalents |-6,914 |-7,011 |Improved 1.4 |
|Repurchases of common stock |-39,280 |-32,498 |Deterioration 20.9 |
|Proceeds from issuance of term debt, net |2,210 | | |
|Repayments of term debt |-5,250 |-2,500 |Deterioration 110.0 |
|Proceeds from/(Repayments of) commercial paper, net |1,518 |-36 |Recovery |
|Proceeds from repurchase agreement |2,556 | | |
|Other |-51 |-51 |Steady |
|Cash used in financing activities |-46,347 |-43,133 |Deterioration 7.5 |
|Increase/(Decrease) in cash, cash equivalents and restricted cash |-7,175 |13,904 |Deterioration |
|Cash, cash equivalents and restricted cash, ending balances |43,049 |39,817 |Up 8.1 |
|Supplemental cash flow disclosure: | | | |
|Cash paid for income taxes, net |7,505 |9,497 |Down 21.0 |
|Cash paid for interest |1,689 |1,762 |Down 4.1 |
12.3 Annual Report (FY 2019): Key Parameters
Apple Net Profit down 7.2%
Release Date: December 19, 2019
Apple (NASDAQ:AAPL) reported net profit for the year-ended 28 September 2019 [FY2019] of $US55.3b, down 7.2% from $US59.5b in the previous year [FY2018]. Earnings per share (EPS) were down 0.3% from $US12.01 in FY2018 to $US11.97 in FY2019.
Major changes compared with previous year (FY2019 vs FY2018):
Favourable Changes:
- Total revenue to total assets up from 0.7 to 0.8
- Sales and marketing expenses to Sales down from 42% to 39.4%
- Current ratio up 36.3% from 1.1 to 1.5
- Total current assets to Total Assets up from 35.9% to 48.1%
- Total Liabilities to EBITDA of 3.8 compares favourably with the Joseph Piotroski benchmark of ................
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