Apple Inc Stock Research

Market Summary

USD175.43+2.44

Market Closed

1.41%

AAPL Alerts

2 major insider sales recently.

AAPL Stock Price

AAPL RSI Chart

AAPL Valuation

Market Cap

2.8T

Price/Earnings (Trailing)

29.24

Price/Sales (Trailing)

7.16

EV/EBITDA

21.56

Price/Free Cashflow

28.29

AAPL Price/Sales (Trailing)

AAPL Profitability

EBT Margin

29.28%

Return on Equity

167.77%

Return on Assets

27.45%

Free Cashflow Yield

3.53%

AAPL Fundamentals

AAPL Revenue

Revenue (TTM)

385.1B

Revenue Y/Y

-2.51%

Revenue Q/Q

-19.05%

AAPL Earnings

Earnings (TTM)

94.3B

Earnings Y/Y

-3.4%

Earnings Q/Q

-19.46%

Price Action

52 Week Range

124.17176.39

(Low)(High)

Last 7 days

0.2%

Last 30 days

7.1%

Last 90 days

19.6%

Trailing 12 Months

22.4%

AAPL Financial Health

Current Ratio

0.94

Debt/Equity

2.15

Debt/Cashflow

1.12

AAPL Investor Care

Dividend Yield

0.52%

Dividend/Share (TTM)

0.92

Buy Backs (1Y)

2.99%

Diluted EPS (TTM)

5.89

Peers (Alternatives to Apple)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.8T	385.1B	7.13%	22.38%	29.24	7.16	-0.24%	-7.47%
HPQ	30.8B	59.8B	8.08%	-14.33%	11.84	0.52	-7.84%	-60.07%
NTAP	14.9B	6.5B	11.96%	0.60%	11.6	2.31	4.33%	27.27%
STX	12.9B	8.4B	10.56%	-26.62%	-80.09	1.53	-30.18%	-108.68%
WDC	12.7B	14.2B	21.51%	-34.56%	-18.42	0.9	-26.12%	-137.89%
MID-CAP
SMCI	11.7B	6.6B	130.98%	344.95%	20.24	1.76	59.38%	362.85%
JNPR	9.8B	5.5B	1.53%	0.28%	19.58	1.78	13.99%	47.48%
PSTG	7.5B	2.8B	21.68%	19.46%	102.24	2.71	26.26%	151.01%
NCR	3.3B	7.8B	13.71%	-29.34%	55.34	0.42	9.61%	-38.14%
XRX	2.3B	7.2B	-6.05%	-17.51%	-11.63	0.32	2.26%	64.55%
SMALL-CAP
DDD	1.2B	526.3M	-7.09%	-24.34%	-11.9	2.21	-12.66%	-150.13%
QMCO	109.0M	402.6M	21.34%	-32.76%	-3.39	0.27	8.80%	23.40%
OSS	49.0M	72.4M	-0.81%	-39.90%	-21.99	0.68	16.84%	-195.55%
DBD	19.8M	3.5B	-66.42%	-91.91%	-0.03	0.01	-11.38%	-637.82%
SCKT	9.5M	19.3M	-23.71%	-54.59%	-7.62	0.49	-21.97%	-127.11%

Financials for Apple

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	-0.6%	385,095	387,537	394,328	387,542	386,017
Gross Profit	-0.3%	166,288	166,871	170,782	167,861	167,231
Operating Expenses	2.0%	53,984	52,906	51,345	49,532	47,852
S&GA Expenses	0.0%	25,260	25,252	25,094	24,270	23,670
R&D Expenses	3.9%	28,724	27,654	26,251	25,262	24,182
EBITDA	-3.8%	128,048	133,138	131,698	132,974	-
EBITDA Margin	-2.1%	0.33*	0.34*	0.34*	0.34*	-
Earnings Before Taxes	-1.5%	111,728	113,485	119,103	117,694	118,997
EBT Margin	-3.0%	0.29*	0.30*	0.30*	0.31*	-
Interest Expenses	7.4%	3,479	3,240	2,931	2,776	2,722
Net Income	-0.9%	94,321	95,171	99,803	99,633	101,935
Net Income Margin	-3.0%	0.25*	0.25*	0.26*	0.26*	-
Free Cahsflow	-12.5%	97,498	111,443	107,582	105,793	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-4.2%	332,160	346,747	352,755	336,309	350,662
Current Assets	-12.3%	112,913	128,777	135,405	112,292	118,180
Cash Equivalents	32.1%	27,129	20,535	23,646	27,502	28,098
Inventory	9.7%	7,482	6,820	4,946	5,433	5,460
Net PPE	1.0%	43,398	42,951	42,117	40,335	39,304
Liabilities	-6.9%	270,002	290,020	302,083	278,202	283,263
Current Liabilities	-12.5%	120,075	137,286	153,982	129,873	127,508
LT Debt, Current	8.6%	10,578	9,740	11,128	14,009	9,659
LT Debt, Non Current	-2.6%	97,041	99,627	98,959	94,700	103,323
Shareholder's Equity	9.6%	62,158	56,727	50,672	58,107	67,399
Retained Earnings	33.8%	4,336	3,240	-3,068	5,289	12,712
Accumulated Depreciation	2.4%	69,668	68,044	72,340	71,516	70,020
Shares Outstanding	-0.8%	15,723	15,842	15,943	16,095	16,208

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	0.4%	109,584	109,190	122,151	118,224	116,426
Share Based Compensation	4.5%	10,112	9,678	9,038	8,705	8,422
Cashflow From Investing	150.6%	3,891	-7,693	-22,354	-20,302	-20,964
Cashflow From Financing	2.2%	-115,526	-118,153	-110,749	-104,337	-106,288
Dividend Payments	0.4%	14,932	14,877	14,841	14,778	14,734
Buy Backs	-3.4%	85,362	88,399	89,402	84,722	85,757

Risks for AAPL

What is the probability of a big loss on AAPL?

59.6%

Probability that Apple stock will be more than 20% underwater in next one year

16.9%

Probability that Apple stock will be more than 30% underwater in next one year.

Probability that Apple stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AAPL drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Apple was unfortunately bought at previous high price.

Drawdowns

Returns for AAPL

Cumulative Returns on AAPL

29.0%

10-Year Cumulative Returns

33.5%

7-Year Cumulative Returns

31.2%

5-Year Cumulative Returns

31.0%

3-Year Cumulative Returns

What are the long-term rolling returns for AAPL?

FIve years rolling returns for Apple.

Annualized Returns

Which funds bought or sold AAPL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-24	Old North State Trust, LLC	added	0.65	1,656,000	7,626,000	5.28%
2023-05-24	Verity Asset Management, Inc.	added	98.65	3,879,800	6,430,450	3.84%
2023-05-23	Brookfield Corp /ON/	new	-	11,999,900	11,999,900	0.05%
2023-05-23	TPB WEALTH ADVISORS	reduced	-0.32	1,278,000	6,476,000	3.53%
2023-05-23	Front Row Advisors LLC	reduced	-1.15	4,837,000	23,839,000	11.44%
2023-05-23	MOUNTAIN PACIFIC INVESTMENT ADVISERS INC/ID	added	0.37	861,538	4,007,340	0.28%
2023-05-23	Seaport Global Advisors, LLC	added	110	988,426	1,581,560	4.99%
2023-05-23	3Chopt Investment Partners, LLC	new	-	7,273,730	7,273,730	3.88%
2023-05-23	Capital Impact Advisors, LLC	sold off	-100	-1,096,090	-	-%
2023-05-23	Toroso Investments, LLC	added	119	121,632,000	189,800,000	3.24%

Latest Funds Activity

Are funds buying AAPL calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AAPL

No. of Funds

AAPL Alerts

2 major insider sales recently.

Apple News

Schedule 13G FIlings of Apple

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	berkshire hathaway inc	5.8%	915,560,382	SC 13G/A
Feb 09, 2023	vanguard group inc	8.04%	1,278,250,538	SC 13G/A
Feb 07, 2023	blackrock inc.	6.5%	1,029,178,566	SC 13G/A
Feb 09, 2022	vanguard group inc	7.69%	1,261,261,357	SC 13G/A
Feb 01, 2022	blackrock inc.	6.2%	1,019,810,291	SC 13G/A
Feb 16, 2021	berkshire hathaway inc	5.4%	907,559,761	SC 13G/A
Feb 10, 2021	vanguard group inc	7.38%	1,255,155,794	SC 13G/A
Feb 05, 2021	blackrock inc.	6.2%	1,057,340,486	SC 13G/A
Feb 14, 2020	berkshire hathaway inc	5.6%	250,866,566	SC 13G/A
Feb 14, 2020	berkshire hathaway inc	5.6%	250,866,566	SC 13G/A

AAPL Fair Value

Apple fair value in different scenarios

The table shows the Fair Value estimates for Apple for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	75.65 -56.88%	96.68 -44.89%	125.53 -28.44%	180.31 2.78%	245.25 39.80%
Current Inflation	69.26 -60.52%	87.22 -50.28%	111.22 -36.60%	157.28 -10.35%	211.72 20.69%
Very High Inflation	61.38 -65.01%	75.81 -56.79%	94.34 -46.22%	130.61 -25.55%	173.29 -1.22%

Historical Apple Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Apple

View All Filings

Date Filed	Form Type	Document
May 18, 2023	4	Insider Trading
May 12, 2023	4	Insider Trading
May 10, 2023	4	Insider Trading
May 10, 2023	8-K	Current Report
May 09, 2023	424B2	Prospectus Filed
May 09, 2023	FWP	Prospectus Filed
May 08, 2023	424B2	Prospectus Filed
May 05, 2023	10-Q	Quarterly Report
May 04, 2023	8-K	Current Report
Apr 18, 2023	4	Insider Trading

Latest Insider Trading transactions for AAPL

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-16	JUNG ANDREA	gifted	-	-	-68,642	-
2023-05-10	Adams Katherine L.	gifted	-	-	-2,900	svp, gc and secretary
2023-05-08	KONDO CHRIS	sold	-708,980	173	-4,092	principal accounting officer
2023-04-15	KONDO CHRIS	acquired	-	-	10,792	principal accounting officer
2023-04-15	KONDO CHRIS	sold (taxes)	-724,281	165	-4,384	principal accounting officer
2023-04-13	Maestri Luca	sold	-11,566,800	165	-69,996	senior vice president, cfo
2023-04-06	Maestri Luca	sold	-32,984	164	-200	senior vice president, cfo
2023-04-04	WILLIAMS JEFFREY E	sold	-12,926,400	166	-77,817	coo
2023-04-03	Adams Katherine L.	sold	-11,938,900	165	-72,225	svp, gc and secretary
2023-04-03	COOK TIMOTHY D	sold	-9,261,350	165	-56,072	chief executive officer

About Apple

Timothy D. Cook

www.apple.com

65535

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch. Further, it provides AppleCare support services; cloud services store services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts. Additionally, the company offers various services, such as Apple Arcade, a game subscription service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV+, which offers exclusive original content; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers, wholesalers, retailers, and resellers. Apple Inc. was incorporated in 1977 and is headquartered in Cupertino, California.

AAPL Income Statement

2023-04-01

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 01, 2023	Mar. 26, 2022	Apr. 01, 2023	Mar. 26, 2022
Net sales	$ 94,836	$ 97,278	$ 211,990	$ 221,223
Cost of sales	52,860	54,719	119,682	124,421
Gross margin	41,976	42,559	92,308	96,802
Operating expenses:
Research and development	7,457	6,387	15,166	12,693
Selling, general and administrative	6,201	6,193	12,808	12,642
Total operating expenses	13,658	12,580	27,974	25,335
Operating income	28,318	29,979	64,334	71,467
Other income/(expense), net	64	160	(329)	(87)
Income before provision for income taxes	28,382	30,139	64,005	71,380
Provision for income taxes	4,222	5,129	9,847	11,740
Net income	$ 24,160	$ 25,010	$ 54,158	$ 59,640
Earnings per share:
Basic (in dollars per share)	$ 1.53	$ 1.54	$ 3.42	$ 3.65
Diluted (in dollars per share)	$ 1.52	$ 1.52	$ 3.41	$ 3.62
Shares used in computing earnings per share:
Basic (in shares)	15,787,154	16,278,802	15,839,939	16,335,263
Diluted (in shares)	15,847,050	16,403,316	15,901,384	16,461,304
Products
Net sales	$ 73,929	$ 77,457	$ 170,317	$ 181,886
Cost of sales	46,795	49,290	107,560	113,599
Services
Net sales	20,907	19,821	41,673	39,337
Cost of sales	$ 6,065	$ 5,429	$ 12,122	$ 10,822

AAPL Balance Sheet

2023-04-01

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Apr. 01, 2023	Sep. 24, 2022
Current assets:
Cash and cash equivalents	$ 24,687	$ 23,646
Marketable securities	31,185	24,658
Accounts receivable, net	17,936	28,184
Inventories	7,482	4,946
Vendor non-trade receivables	17,963	32,748
Other current assets	13,660	21,223
Total current assets	112,913	135,405
Non-current assets:
Marketable securities	110,461	120,805
Property, plant and equipment, net	43,398	42,117
Other non-current assets	65,388	54,428
Total non-current assets	219,247	217,350
Total assets	332,160	352,755
Current liabilities:
Accounts payable	42,945	64,115
Other current liabilities	56,425	60,845
Deferred revenue	8,131	7,912
Commercial paper	1,996	9,982
Term debt	10,578	11,128
Total current liabilities	120,075	153,982
Non-current liabilities:
Term debt	97,041	98,959
Other non-current liabilities	52,886	49,142
Total non-current liabilities	149,927	148,101
Total liabilities	270,002	302,083
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,723,406 and 15,943,425 shares issued and outstanding, respectively	69,568	64,849
Retained earnings/(Accumulated deficit)	4,336	(3,068)
Accumulated other comprehensive income/(loss)	(11,746)	(11,109)
Total shareholders’ equity	62,158	50,672
Total liabilities and shareholders’ equity	$ 332,160	$ 352,755