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Apple, Incorporated (AAPL)

AAPL Stock Report

2-Year Price History

Recent Price
(6/22 4:00PM) -1.5%
$137.37
52-Week Price
$78.20 – $180.91
Market Capitalization
$124.4 Billion
Dividend Yield
0.00%
Most Recent Dividend
$0.00
All Financial News about AAPL is here.

About Apple, Inc.

Apple, Incorporated is considered to operate in the Technology sector. They specifically operate in the Personal Computers business segment contained within the Computer Hardware industry.

The Company designs, manufactures and markets personal computers, portable digital music players and mobile communication devices and sell a variety of related software, services, peripherals and networking solutions.

Ockham’s Rating

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AAPL Revenue

For a long time, value investors have used the current share price relative to sales per share levels as an important valuation tool. We utilize a historical weighted average methodology that treats recent years more importantly in the calculation. When looking at AAPL through this framework, we can see that our weighted average historical high and low Price to Sales per share ratios over the last 10 years are 3.73x and 1.79x respectively.

Utilizing this range we can see that AAPL’s current Price to Sales per share ratio of 3.05x is somewhat above its historical average. As such, the current Price to Sales ratio suggests a neutral share price forecast. In order for us to become more positive about AAPL we would need to see a drop in the Price to Sales ratio of 10% given current sales per share levels in order to return to its historical weighted average.

AAPL Cash Earnings

Cash Earnings is always one of the most important factors to review for a company and, more importantly, an investment in a stock. AAPL is significantly below their historical average multiples of Cash Earnings, as calculated by our proprietary analysis. It is incredibly important to understand that for AAPL, the current level of Cash Earnings compared to its historical levels helps identify where AAPL is in relation to what the investing community was willing to pay for this level of Cash Earnings in the past. With a historical high Cash Earnings per share ratio of 39.10 and a historical low Cash Earnings per share ratio of 19.80, an investor can relate where value becomes optimal.

So what does "significantly below" mean when we talk about Price to Cash Earnings numbers for AAPL? From the Ockham perspective, we are looking specifically at AAPL to see if the market is recognizing the huge disparity between AAPL’s past stock price to Cash Earnings ratio to today’s levels. At a difference of 25% below the average historical Price to Cash Earnings ratio, our view would be quite positive at this point. However, as with all metrics, we need to also take other factors into account when looking at AAPL. While we view better Cash Earnings metrics as very important, if the market is slow to identify this value, or if Cash Earnings were to fall from these levels, we would become more neutral in our stance.

AAPL Dividends

A strong dividend payment history is looked upon as a favorable characteristic on a company’s future and potentially can receive a positive Ockham rating. That being said, we don’t require dividend payments for company’s whose management has elected to forgo them entirely. As far as our investing methodology goes, it is not necessary to pay a dividend in order to get a favorable rating, so as for right now AAPL gets a neutral rating for the dividend portion of the model. As you can see, we are not receiving historical dividend information from our data provider on AAPL at this time.

Peer Comparison

:

Apple, Inc. Industry Grouping

(6/19/2009)
Company Ticker Market Cap (Ml) Latest
Price
Price/Cash Earnings Price/Sales 5-Yr. Rev.
Growth Rate
5-Yr.
Avg. ROE.
Current 10-Yr. Range* Current 10-Yr. Range*
Peer Company Averages (not incuding AAPL) 9.74 6.27 » 316.98 1.41 0.90 » 10.25 11.24% 31.31%
*10 year range does not include current year values
International Business Machines Corp. IBM $139.9 Billion $105.89 7.93 5.25 » 27.38 1.31 0.90 » 2.68 3.06% 42.78%
Apple, Inc. AAPL $124.4 Billion $139.48 22.21 9.73 » 186.01 3.05 0.75 » 5.63 39.23% 18.06%
Cisco Systems, Inc. CSCO $109.1 Billion $18.92 12.45 7.75 » 261.76 2.88 1.65 » 14.64 15.94% 22.80%
Hewlett-Packard Company HPQ $91.5 Billion $38.35 7.67 6.18 » 62.91 0.81 0.54 » 3.10 10.13% 14.46%
EMC Corp. EMC $26.4 Billion $13.10 11.29 6.94 » 1171.43 1.65 1.12 » 25.97 18.99% 10.50%
Dell, Inc. DELL $26.0 Billion $13.29 9.36 5.24 » 61.40 0.40 0.28 » 4.87 8.07% 66.00%
>
Ockham Ratings & Analysis Report
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The latest TV Media Discussion

6:54:36 PM AAPL $137.08 Apple, Inc.
3 hours ago (06/22)
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6:53:15 PM AAPL $137.08 Apple, Inc.
3 hours ago (06/22)
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6:08:27 PM AAPL $137.11 Apple, Inc.
Mad Money
3 hours ago (06/22)
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6:07:21 PM AAPL $137.27 Apple, Inc.
Mad Money
3 hours ago (06/22)
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5:50:39 PM AAPL $137.02 Apple, Inc.
Happy Hour
4 hours ago (06/22)
“…Of the stock and last but not least, steve jobs, put it up here, the guy had a liver transplant, guys, here’s what is going on, pancreatic cancer, when cancer spread, you have to replace organs and this is not good for APPLE. If you own APPLE stock, great company and great product, if you are worried about it and your position in APPLE, I would get out now, while the getting is good, on — sends it back over to remember back. >> ladies, would you rather walk around, the subway on this or this? …” …more details…
5:41:31 PM AAPL $137.05 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…I’ll take that measly 1%. I’ll take it. >> why not? Rimm was down 6%. >> let’s add something we had with jimmy goldman before on APPLE and rimm. When you look at the spike in the vix, names like APPLE and rimm do not perform well when you see the lift in the vix. You are seeing the lift in the vix right now. I want to own rimm, but I don’t want to own it yet until we see volatility come in. >> drop here for mow yake down …” …more details…
5:27:22 PM AAPL $136.88 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…In their way right now. They have a $998-gig iphone, it’s a whole different market >> if the market turns around, I will be the first one to buy it because I like APPLE going >> jim, thanks for your keep us updated on the steve jobs returning to work. >>> moving on right now, take a …” …more details…
5:26:49 PM AAPL $136.94 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…Our only point is something that goes from 75 to 145 basically uninterrupted in a few months’ period is due for a pullback. As the tape corrects, APPLE will correct farther. I think APPLE is a great company, but I don’t like it here, especially if the market moves lower. I think it trades around >> it traded through the 20 day. APPLE was defensive relative to its peers, it’s been on a downward trend. The other thing steve jobs was not long back on campus before he went out and said the momentum in the iphone has never been better. …” …more details…
5:25:49 PM AAPL $137.02 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…People out there who have a working iphone and instead went out and bought yet another one. The final thing is the healthy percentage of current blackberry users who traded for an APPLE iphone gps over the weekend. All in all, the metrics we are looking at here studying the success of this particular hardware seemed much better than expected. >> jim, I don’t think guy or myself or anyone who has caution about APPLE is confirmed about the fundamentals of APPLE itself, it’s really about the market and concern we have for the broad market and how APPLE has been such a favorite play over the last two to three months and is heavily owned. When we are concerned about the selling pressure coming in, we think it’s the deleveraging story more than the fundamentals of the APPLE story in the moment. >> let me ask you a question then. Is now a time to get in? Do you wait to see where the what is the entry point for when you are talking about …” …more details…
5:25:00 PM AAPL $137.02 Apple, Inc.
Happy Hour
4 hours ago (06/22)
“…That their 3gs sales were not going to be as high as they were and what was it? People just were so excited, and the analysts didn’t tap into the psyche of the APPLE — >> everybody low-balled the estimates there and APPLE blew it out of the water and sales came in as good as the last iphone release, and look, people bought a ton of them, hundreds of thousands of them in pre-release and lines were not …” …more details…
5:24:20 PM AAPL $137.03 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…Going to be offering phones that support google’s android? >> the numbers are phenomenal. I listened to guy adami moments ago and other folks on your panel suggesting APPLE shares are going to be declining in the when you are talking about a million iphones sold there is …” …more details…
5:24:19 PM AAPL $137.03 Apple, Inc.
Happy Hour
4 hours ago (06/22)
“…The biggest challenge with APPLE I interact with because i’m always trying to get information, on APPLE, as i’m always covering it every day, you just wish they would be more transparent about what is going on with steve jobs, like you said the future of APPLE is tied to the health and the ideas that come out of steve jobs’ head and if we don’t know, if he is running the company it makes a big deal for investors and the rumor mill takes of and that is …” …more details…
5:23:54 PM AAPL $137.10 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…This after announcing they did sell over a million new iphones. Let’s go back to jim. What is the latest on this? >> you’d think after that report that the phones would start lighting up from APPLE officials confirming or denying this news, but the blackberry remains silent. Nonetheless, as I mentioned a few minutes ago, employees here at APPLE’s cupertino’s campus they have seen him on campus. We are wait forgt official word from APPLE. Everybody i’m speaking to says he is here at the office. >> just curious in terms of the iphone sales, can you tell us whether this is much bet ever than expected? Especially in light of the …” …more details…
5:22:25 PM AAPL $137.22 Apple, Inc.
Happy Hour
4 hours ago (06/22)
“…>> the stock dropped 2% today, down $2. Rebecca: 1.5%, rerounded up. >> sound it out. Cody: seriously, what is going on. >> a couple of things with APPLE stock, the reason it dropped, be a valleys everyone shrugged off the 3gs sales, that were spectacular over the weekend and really focusing on the steve jobs things and a couple things …” …more details…
5:21:43 PM AAPL $137.11 Apple, Inc.
Happy Hour
4 hours ago (06/22)
“…Rebecca: APPLE sold twice more iphone 3gss over the weekend and the stock dropped 2% but it is taxing a bit higher with the …” …more details…
5:18:43 PM AAPL $137.26 Apple, Inc.
Happy Hour
4 hours ago (06/22)
“…>> on tap, better than expected, applause all around in the bar, thanks, guys. Better than expected iphone kls sales didn’t come back — help and’s stock but APPLE’s stocks moving after hours, with information about steve jobs. Rebecca: he’s back, finally. Cody: when "fox business" continues and you can see, …” …more details…
5:05:50 PM AAPL $138.19 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…Work today and if that’s your buying the stock, that’s the you buy the stock because you think it’s going up higher. Personally, I think it will go lower, down into the low $130s. >> APPLE was the victim of a horrendous case today. Everything was being sold and obliterated throughout the day. I agree with guy. Over the next couple of days, I think APPLE will be particularly heavy with a lot of selling. >> let’s get back to the story of the day which is a broad market sell-off. To illustrate how volatile it was, we’ll take a look at this. …” …more details…
5:05:06 PM AAPL $138.19 Apple, Inc.
Fast Money
4 hours ago (06/22)
“…Here is an opportunity for them. They don’t need to announce he is back with a big flourish. They can just have him be back or not, but they ought to continue to have other people out there so that people see APPLE as not just a steve jobs >> it is interesting to see the stock after hours hit higher even during the day it didn’t do very well, even on the back of those 1 million iphone sales …” …more details…
5:03:50 PM AAPL $138.27 Apple, Inc.
Fast Money
5 hours ago (06/22)
“…Right now it seems to be pretty good news that steve jobs after that reported liver transplant is here back at the office at least today in APPLE’s cupetino >>> right now I was half-joking that we wanted proof of steve jobs because they were hiding that liver transplant so long. …” …more details…
4:59:41 PM AAPL $137.30 Apple, Inc.
5 hours ago (06/22)
“…Yeah! Liz: what do we need to know, >> we talked about it earlier, the one hot product, and it was pooh-poohed is the APPLE phone i-fortunate and I have a razr from 1979, I think the stock will do great, despite the down day I think it is up 30% in a …” …more details…
4:50:15 PM AAPL $137.31 Apple, Inc.
5 hours ago (06/22)
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4:47:28 PM AAPL $137.31 Apple, Inc.
5 hours ago (06/22)
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4:44:41 PM AAPL $137.34 Apple, Inc.
5 hours ago (06/22)
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4:43:55 PM AAPL $137.36 Apple, Inc.
5 hours ago (06/22)
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4:42:05 PM AAPL $137.22 Apple, Inc.
5 hours ago (06/22)
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4:38:24 PM AAPL $137.37 Apple, Inc.
5 hours ago (06/22)
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4:08:46 PM AAPL $137.33 Apple, Inc.
5 hours ago (06/22)
“…The way down to teenagers. It doesn’t mean it’s complete doom and gloom. There is some strength, and I think the APPLE news shows it. >> we’ll be back in just a moment. >> political rankling as the white house and congress try to put together a healthcare plan. …” …more details…
3:56:38 PM AAPL $137.70 Apple, Inc.
6 hours ago (06/22)
“…Company stocks as well. Number five, research in motion and palm as well. Both stocks are down after APPLE hit it out of the park with the iphone, selling more than a million unit. APPLE stock is down. Research in motion is down number four, serious xm believe it or not, the stock is up because they said they’re going to offer 350 million in senior secured …” …more details…
3:46:34 PM AAPL $137.70 Apple, Inc.
6 hours ago (06/22)
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3:37:40 PM AAPL $137.78 Apple, Inc.
6 hours ago (06/22)
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3:34:26 PM AAPL $137.58 Apple, Inc.
6 hours ago (06/22)
“…On the word. The quadruple or triple "q" fz you want tos if you want to call them that. Research in motion negative news after APPLE sold 1 million 3gs phone. Microsoft, the biggest company trading here. When the stock is down you see similar reaction in composite. Now. There are five stocks in the nasdaq 100 that are trading …” …more details…
3:05:13 PM AAPL $137.63 Apple, Inc.
6 hours ago (06/22)
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2:26:19 PM AAPL $137.61 Apple, Inc.
7 hours ago (06/22)
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2:25:39 PM AAPL $137.59 Apple, Inc.
7 hours ago (06/22)
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2:24:54 PM AAPL $137.46 Apple, Inc.
7 hours ago (06/22)
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2:24:17 PM AAPL $137.46 Apple, Inc.
7 hours ago (06/22)
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2:20:44 PM AAPL $137.30 Apple, Inc.
7 hours ago (06/22)
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1:40:01 PM AAPL $137.02 Apple, Inc.
8 hours ago (06/22)
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Key Fundamentals

AAPL – Apple, Incorporated Fundamentals
Price (6/22 4:00PM) $137.37
Volume (6/22 4:00PM) 22.7 Million
Last Close Price $139.48
10 Day Average Volume 21.5 Million
13 Week Price Range $101.75 – $146.40
52 Week Price Range $78.20 – $180.91
LTM Revenue $33.7 Billion
 
Shares Outstanding (09/2008) 892.1 Million
Market Capitalization $124.4 Billion
Shares Held By Institutions 645.6 Million
Institutional Holders 1,643
% Shares Held By Institutions 72.40%
Earnings Per Share (EPS) $5.36
P/E Ratio 25.10
Book Value Per Share $27.25
 
Gross Margin 36.90%
Annual Dividend 0.00
Dividend Yield 0.00%
Beta 1.67
Fiscal Year Ends September
NASDAQ 1766.19

-61.28  -3.35%
S&P; 500 893.04

-28.19  -3.06%
^DIA 83.32

-1.99  -2.33%