Aapl S13
s
Krause Fund Research
Spring 2013
Apple, Inc. (NYSE: AAPL)
Technology
April 23, 2013
Recommendation: HOLD
Analysts
Current Price
Target Price
Sungjoon Kim sungjoon-kim@uiowa.edu Apple Marks a Watershed
Jinhyung Lee jinhyung-lee@uiowa.edu Company Overview
Apple Inc. is founded by Steve Jobs, Steve Wozniak, and
Ronald Wayne in 1976 and is headquartered in Cupertino,
California. The company designs and manufactures smart phones, computers, and portable music players. In addition, it sells multiple software-related products, services, peripherals, content and applications. Apple Inc. is the world’s second largest technology company by revenue, and the third largest smart phone maker. The company manages its operating segment by geographical basis: Americas (both
North and South), Europe (included Middle East and
Africa), Japan, Asia-Pacific (Australia and Asian countries), and Retail operation (Apple retail store in 13 countries).
Stock Performance Highlights
52 week Price Range
Beta
Average Volume (M)
Share Highlights
Market Capitalization (B)
Shares Outstanding (M)
EPS – basic (2012)
P/E Ratio (ttm)
Dividend Yield
Dividend Payout Ratio
Company Performance Highlights
ROA (ttm)
ROE (ttm)
Sales (M)
Financial Ratios
Current Ratio
Quick Ratio
Inventory Turnover
Total Debt
Debt to Equity
Profit Margin
$ 406.13
$ 670.97
$385.10 - 705.07
1.037
17.94
$381.38
934.82
$44.64
9.21
10.60 (2.70%)
5.94%
23.7%
35.30%
$156,508
In 2012, around 61% of Apple’s total net sales came from foreign countries. Despite the US economic recession and
European sovereign-debt crisis, the global macroeconomic condition is still favorable for Apple to grow and expand its business. It is because the worldwide IT spending is steadily increasing. Also, global currency exchange rates are changing in favor of the companies, such as Apple, which use the dollar for their revenue accounting, especially in Asian markets.
As the iPhone and the iPad replace the functions of the iPod,
we
Krause Fund Research
Spring 2013
Apple, Inc. (NYSE: AAPL)
Technology
April 23, 2013
Recommendation: HOLD
Analysts
Current Price
Target Price
Sungjoon Kim sungjoon-kim@uiowa.edu Apple Marks a Watershed
Jinhyung Lee jinhyung-lee@uiowa.edu Company Overview
Apple Inc. is founded by Steve Jobs, Steve Wozniak, and
Ronald Wayne in 1976 and is headquartered in Cupertino,
California. The company designs and manufactures smart phones, computers, and portable music players. In addition, it sells multiple software-related products, services, peripherals, content and applications. Apple Inc. is the world’s second largest technology company by revenue, and the third largest smart phone maker. The company manages its operating segment by geographical basis: Americas (both
North and South), Europe (included Middle East and
Africa), Japan, Asia-Pacific (Australia and Asian countries), and Retail operation (Apple retail store in 13 countries).
Stock Performance Highlights
52 week Price Range
Beta
Average Volume (M)
Share Highlights
Market Capitalization (B)
Shares Outstanding (M)
EPS – basic (2012)
P/E Ratio (ttm)
Dividend Yield
Dividend Payout Ratio
Company Performance Highlights
ROA (ttm)
ROE (ttm)
Sales (M)
Financial Ratios
Current Ratio
Quick Ratio
Inventory Turnover
Total Debt
Debt to Equity
Profit Margin
$ 406.13
$ 670.97
$385.10 - 705.07
1.037
17.94
$381.38
934.82
$44.64
9.21
10.60 (2.70%)
5.94%
23.7%
35.30%
$156,508
In 2012, around 61% of Apple’s total net sales came from foreign countries. Despite the US economic recession and
European sovereign-debt crisis, the global macroeconomic condition is still favorable for Apple to grow and expand its business. It is because the worldwide IT spending is steadily increasing. Also, global currency exchange rates are changing in favor of the companies, such as Apple, which use the dollar for their revenue accounting, especially in Asian markets.
As the iPhone and the iPad replace the functions of the iPod,
we