Apple Inc Stock Research

Market Summary

USD158.28-1.97

Market Closed

-1.23%

AAPL Stock Price

AAPL RSI Chart

AAPL Valuation

Market Cap

2.5T

Price/Earnings (Trailing)

26.35

Price/Sales (Trailing)

6.47

EV/EBITDA

19.42

Price/Free Cashflow

25.72

AAPL Price/Sales (Trailing)

AAPL Profitability

EBT Margin

29.28%

Return on Equity

167.77%

Return on Assets

27.45%

Free Cashflow Yield

3.89%

AAPL Fundamentals

AAPL Revenue

Revenue (TTM)

387.5B

Revenue Y/Y

-5.48%

Revenue Q/Q

29.96%

AAPL Earnings

Earnings (TTM)

95.2B

Earnings Y/Y

-13.38%

Earnings Q/Q

44.77%

Price Action

52 Week Range

124.17178.80

(Low)(High)

Last 7 days

0.6%

Last 30 days

7.9%

Last 90 days

21.7%

Trailing 12 Months

-9%

AAPL Financial Health

Current Ratio

0.94

Debt/Equity

2.15

Debt/Cashflow

1.12

AAPL Investor Care

Dividend Yield

0.57%

Dividend/Share (TTM)

0.91

Buy Backs (1Y)

3.35%

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	2.5T	387.5B	7.89%	-9.00%	26.35	6.47	2.44%	-5.35%
HPQ	27.5B	59.8B	-4.55%	-29.55%	10.55	0.46	-7.84%	-60.07%
NTAP	13.2B	6.5B	-5.69%	-26.47%	10.24	2.04	4.33%	27.27%
STX	12.8B	9.4B	-6.17%	-31.12%	20.67	1.37	-21.90%	-66.38%
WDC	11.2B	15.8B	-9.97%	-30.70%	-120.77	0.71	-16.84%	-104.67%
MID-CAP
JNPR	10.6B	5.3B	7.36%	-9.58%	22.49	2	11.95%	86.39%
PSTG	7.2B	2.7B	-14.63%	-33.09%	532.94	2.72	34.27%	106.43%
SMCI	5.9B	6.6B	12.98%	164.11%	10.24	0.89	59.38%	362.85%
NCR	3.0B	7.8B	-14.44%	-47.10%	50.55	0.39	9.61%	-38.14%
XRX	2.3B	7.1B	-7.80%	-24.23%	-7.26	0.33	0.98%	29.23%
SMALL-CAP
DDD	1.3B	556.2M	-1.20%	-38.53%	-12.44	2.31	-12.75%	-133.51%
QMCO	92.7M	402.6M	-14.96%	-55.97%	-2.88	0.23	8.80%	23.40%
DBD	69.4M	3.6B	-69.61%	-87.73%	-0.15	0.02	-10.12%	-413.74%
OSS	50.1M	71.9M	-14.68%	-37.19%	77.21	0.7	23.75%	-78.12%
SCKT	14.0M	22.2M	-5.76%	-49.61%	24.78	0.63	2.03%	-88.84%

Financials for Apple

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-1.7%	387,537	394,328	387,542	386,017	378,323
Gross Profit	-2.3%	166,871	170,782	167,861	167,231	162,751
Operating Expenses	3.0%	52,906	51,345	49,532	47,852	45,848
S&GA Expenses	0.6%	25,252	25,094	24,270	23,670	22,791
R&D Expenses	5.3%	27,654	26,251	25,262	24,182	23,057
EBITDA	-3.8%	128,048	133,138	131,698	132,974	130,885
EBITDA Margin	-2.1%	0.33*	0.34*	0.34*	0.34*	0.35*
Earnings Before Taxes	-4.7%	113,485	119,103	117,694	118,997	116,869
EBT Margin	-3.0%	0.29*	0.30*	0.30*	0.31*	0.31*
Interest Expenses	10.5%	3,240	2,931	2,776	2,722	2,701
Net Income	-4.6%	95,171	99,803	99,633	101,935	100,555
Net Income Margin	-3.0%	0.25*	0.25*	0.26*	0.26*	0.27*
Free Cahsflow	-12.5%	97,498	111,443	107,582	105,793	101,853

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-1.7%	346,747	352,755	336,309	350,662	381,191
Current Assets	-4.9%	128,777	135,405	112,292	118,180	153,154
Cash Equivalents	-13.2%	20,535	23,646	27,502	28,098	38,630
Inventory	37.9%	6,820	4,946	5,433	5,460	5,876
Net PPE	2.0%	42,951	42,117	40,335	39,304	39,245
Liabilities	-4.0%	290,020	302,083	278,202	283,263	309,259
Current Liabilities	-10.8%	137,286	153,982	129,873	127,508	147,574
LT Debt, Current	-12.5%	9,740	11,128	14,009	9,659	11,169
LT Debt, Non Current	0.7%	99,627	98,959	94,700	103,323	106,629
Shareholder's Equity	11.9%	56,727	50,672	58,107	67,399	71,932
Retained Earnings	205.6%	3,240	-3,068	5,289	12,712	14,435
Accumulated Depreciation	-5.9%	68,044	72,340	71,516	70,020	68,454
Shares Outstanding	-0.6%	15,842	15,943	16,095	16,208	16,392

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-10.6%	109,190	122,151	118,224	116,426	112,241
Share Based Compensation	7.1%	9,678	9,038	8,705	8,422	8,151
Cashflow From Investing	65.6%	-7,693	-22,354	-20,302	-20,964	-22,067
Cashflow From Financing	-6.7%	-118,153	-110,749	-104,337	-106,288	-89,263
Dividend Payments	0.2%	14,877	14,841	14,778	14,734	14,586
Buy Backs	-1.1%	88,399	89,402	84,722	85,757	81,674

Risks for AAPL

What is the probability of a big loss on AAPL?

56.5%

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

27.8%

10-Year Cumulative Returns

30.8%

7-Year Cumulative Returns

31.8%

5-Year Cumulative Returns

37.6%

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
2023-03-24	Longbow Finance SA	new	-	36,844,600	36,844,600	4.96%
2023-03-24	Freemont Management S.A.	unchanged	-	-1,350,430	21,217,600	3.33%
2023-03-24	PALISADE CAPITAL MANAGEMENT, LP	reduced	-2.64	-4,138,290	44,764,700	1.20%
2023-03-23	Prostatis Group LLC	reduced	-77.29	-991,999	1,163,170	0.68%
2023-03-23	MetLife Investment Management, LLC	reduced	-3.08	-57,027,900	585,429,000	4.69%
2023-03-23	ETF MANAGERS GROUP, LLC	reduced	-45.09	-887,200	946,800	0.04%
2023-03-22	Pictet North America Advisors SA	reduced	-3.42	-2,247,730	22,175,700	3.82%
2023-03-22	Campion Asset Management	added	0.58	-129,577	2,248,420	2.21%
2023-03-20	Socha Financial Group, LLC	added	0.12	-13,729	220,910	0.16%
2023-03-17	American Portfolios Advisors	added	0.89	2,163,420	111,437,000	4.72%

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

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	83.51 -47.24%	106.05 -33.00%	140.58 -11.18%	204.95 29.49%	276.14 74.46%
Current Inflation	76.23 -51.84%	95.39 -39.73%	124.10 -21.59%	178.05 12.49%	237.49 50.04%
Very High Inflation	67.29 -57.49%	82.55 -47.85%	104.74 -33.83%	147.03 -7.11%	193.37 22.17%

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
Mar 24, 2023	4	Insider Trading
Mar 16, 2023	SD	SD
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading

Latest Insider Trading transactions for AAPL

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-22	WILLIAMS JEFFREY E	sold	-29,991,700	159	-187,730	coo
2023-02-03	LEVINSON ARTHUR D	gifted	-	-	-1,685	-
2023-02-01	LOZANO MONICA C	acquired	-	-	1,685	-
2023-02-01	WAGNER SUSAN	acquired	-	-	1,685	-
2023-02-01	BELL JAMES A	acquired	-	-	1,685	-
2023-02-01	GORE ALBERT JR	acquired	-	-	1,685	-
2023-02-01	LEVINSON ARTHUR D	acquired	-	-	1,685	-
2023-02-01	JUNG ANDREA	acquired	-	-	1,685	-
2023-02-01	Gorsky Alex	acquired	-	-	1,685	-
2023-02-01	SUGAR RONALD D	acquired	-	-	1,685	-

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

2022-12-31

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Net sales	$ 117,154	$ 123,945
Cost of sales	66,822	69,702
Gross margin	50,332	54,243
Operating expenses:
Research and development	7,709	6,306
Selling, general and administrative	6,607	6,449
Total operating expenses	14,316	12,755
Operating income	36,016	41,488
Other income/(expense), net	(393)	(247)
Income before provision for income taxes	35,623	41,241
Provision for income taxes	5,625	6,611
Net income	$ 29,998	$ 34,630
Earnings per share:
Basic (in dollars per share)	$ 1.89	$ 2.11
Diluted (in dollars per share)	$ 1.88	$ 2.10
Shares used in computing earnings per share:
Basic (in shares)	15,892,723	16,391,724
Diluted (in shares)	15,955,718	16,519,291
Products
Net sales	$ 96,388	$ 104,429
Cost of sales	60,765	64,309
Services
Net sales	20,766	19,516
Cost of sales	$ 6,057	$ 5,393

AAPL Balance Sheet

2022-12-31

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 24, 2022
Current assets:
Cash and cash equivalents	$ 20,535	$ 23,646
Marketable securities	30,820	24,658
Accounts receivable, net	23,752	28,184
Inventories	6,820	4,946
Vendor non-trade receivables	30,428	32,748
Other current assets	16,422	21,223
Total current assets	128,777	135,405
Non-current assets:
Marketable securities	114,095	120,805
Property, plant and equipment, net	42,951	42,117
Other non-current assets	60,924	54,428
Total non-current assets	217,970	217,350
Total assets	346,747	352,755
Current liabilities:
Accounts payable	57,918	64,115
Other current liabilities	59,893	60,845
Deferred revenue	7,992	7,912
Commercial paper	1,743	9,982
Term debt	9,740	11,128
Total current liabilities	137,286	153,982
Non-current liabilities:
Term debt	99,627	98,959
Other non-current liabilities	53,107	49,142
Total non-current liabilities	152,734	148,101
Total liabilities	290,020	302,083
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,842,407 and 15,943,425 shares issued and outstanding, respectively	66,399	64,849
Retained earnings/(Accumulated deficit)	3,240	(3,068)
Accumulated other comprehensive income/(loss)	(12,912)	(11,109)
Total shareholders’ equity	56,727	50,672
Total liabilities and shareholders’ equity	$ 346,747	$ 352,755