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Apple

Nasdaq:AAPL
Snowflake Description

Solid track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AAPL
Nasdaq
$922B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Apple Inc. designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The last earnings update was 53 days ago. More info.


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3 Month History
AAPL
Industry
5yr Volatility vs Market

AAPL Value

 Is Apple undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Apple to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.

How is this discounted cash flow calculated?

  • The current share price of Apple is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Apple's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Apple's earnings available for a low price, and how does this compare to other companies in the same industry?
  • Apple is overvalued based on earnings compared to the US Tech industry average.
  • Apple is good value based on earnings compared to the US market.
Price based on expected Growth
Does Apple's expected growth come at a high price?
  • Apple is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Apple's assets?
  • Apple is overvalued based on assets compared to the US Tech industry average.
X
Value checks
We assess Apple's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Tech industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Tech industry average (and greater than 0)? (1 check)
  5. Apple has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
    Note 2: PEG ratio is based on analysts EPS growth expectations in 1 year (18.33%).

    Full details on the Value part of the Simply Wall St company analysis model.
X
Discounted cash flow (2 Stage Free Cash Flow to Equity)

The calculations below outline how an intrinsic value for Apple is arrived at by discounting future cash flows to their present value. We use analyst's estimates of cash flows going forward 5 years.

See our documentation to learn about this calculation.

5 year cash flow forecast

Present value of next 5 years cash flows:
$246,380

Terminal Value

Terminal Value = FCF2022 × (1 + g) ÷ (Discount Rate – g)

Terminal Value = $69,623 × (1 + 2.47%) ÷ (10.51% – 2.47%)

Terminal value based on the Perpetuity Method where growth (g) = 2.47%:
$887,080

Present value of terminal value:
$538,156

Equity Value

Equity Value (Total value) = Present value of next 5 years cash flows + terminal value
$784,536 = $246,380 + $538,156

Value = Total value / Shares Outstanding ($784,536 / 4,915)

Discount to Share Price

Value per share (USD): $159.62

Current discount (share price of $187.16): -17.26%



Estimate of Discount Rate

The discount rate, or required rate of return, is estimated by calculating the Cost of Equity.

Discount rate = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)

Discount rate = 10.51% = 2.47% + (1.068 * 7.53%)



Estimate of Bottom Up Beta

The Levered Beta is the Unlevered Beta adjusted for financial leverage. It is limited to 0.8 to 2.0 (practical range for a stable firm). Note the market value of equity is used not the book value ($922,227,342,940).

Levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))

1.068 = 0.946 (1 + (1- 2.7%) (13.21%))

Levered Beta used in calculation = 1.068



Assumptions
  1. The risk free rate of 2.47% is from the 10 year government bond rate in USD.
  2. The bottom-up beta is estimated by analysing other companies in the same industry.
  3. The Equity Risk Premium is calculated by subtracting the risk free rate from the market return premium (7.53%) (source: Buffet).
  4. The dividend discount model is automatically used for companies in the following industries: Banks, Insurance, Real Estate Investment Trusts (REITs), Diversified Financial Services and Capital Markets.

AAPL Future Performance

 How is Apple expected to perform in the next 1 to 3 years based on estimates from 39 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Apple expected to grow at an attractive rate?
Growth vs Market Checks
Annual Growth Rates Comparison
Analysts growth expectations
Super high growth metrics
High Growth Checks
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Apple is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
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Future performance checks
We assess Apple's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the US market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the US market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Apple has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AAPL Past Performance

  How has Apple performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Apple's growth in the last year to its industry (Tech).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Apple's year on year earnings growth rate has been positive over the past 5 years.
  • Apple's 1-year earnings growth exceeds its 5-year average (16.6% vs 7.1%)
  • Apple's earnings growth has exceeded the US Tech industry average in the past year (16.6% vs 5.9%).
Earnings and Revenue History
Apple's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Apple made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Apple used its assets more efficiently than the US Tech industry average last year based on Return on Assets.
  • Apple's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Apple's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Tech industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Apple has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AAPL Health

 How is Apple's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Apple's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Apple is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Apple's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Apple's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
  • Apple's level of debt (96%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.3% vs 96% today).
  • Debt is well covered by operating cash flow (55.2%, greater than 20% of total debt).
  • Apple earns more interest than it pays, coverage of interest payments is not a concern.
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Financial health checks
We assess Apple's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Apple has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AAPL Dividends

 What is Apple's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.56%
Current annual income from Apple dividends. Estimated to be 1.59% next year.
If you bought $2,000 of Apple shares you are expected to receive $31 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Apple's dividend is above the low risk savings rate (1.42%).
  • Apple's dividend is below the markets top dividend payers (3.95%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
  • Whilst dividend payments have been stable, Apple has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Apple only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Apple's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by net profit (4.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by net profit (4.4x coverage).
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Income/ dividend checks
We assess Apple's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.5%) - if not then the rest of the checks are ignored.
  2. Current dividend yield, is there one at all, is it higher than the low risk savings rate, and is it above the top 25% of dividend payers? (2 checks)
  3. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  4. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  5. How sustainable is the dividend, can Apple afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  6. Apple has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AAPL Management

 What is the CEO of Apple's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tim Cook, image provided by Google.
Tim Cook
COMPENSATION $12,825,070
AGE 56
TENURE AS CEO 6.8 years
CEO Bio

Mr. Timothy D. Cook, also known as Tim, has been Chief Executive Officer of Apple Inc. (“Apple”) since August 2011 and its Director since 2011. Mr. Cook served as Chief Operating Officer at Apple Inc. since October 2005. He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace. Mr. Cook joined Apple in March 1998 and served as Executive Vice President, Worldwide Sales and Operations from 2002 to 2005. From 2000 to 2002, Mr. Cook served as Senior Vice President, Worldwide Operations, Sales, Service and Support. From 1998 to 2000, Mr. Cook served as Senior Vice President, Worldwide Operations. Prior to joining Apple, he was Vice President of Corporate Materials for Compaq. Previous to his work at Compaq, he was the Chief Operating Officer of the Reseller Division at Intelligent Electronics. Mr. Cook has Board extensive executive leadership experience in the technology industry, including the management of worldwide operations, sales, service, and support. He serves as Director at NIKE, Inc. He served on the boards of The National Football Foundation & College Hall of Fame, Inc. and Robert F. Kennedy Center for Justice and Human Rights. He served on the Board of Trustees at Duke University. He also spent 12 years with IBM, most recently as Director of North American Fulfillment where he led manufacturing and distribution functions for IBM's Personal Computer Company in North and Latin America. He earned an M.B.A. from Duke University, where he was a Fuqua Scholar, and a Bachelor of Science degree in Industrial Engineering from Auburn University.

CEO Compensation
  • Tim's compensation has increased by more than 20% in the past year.
  • Tim's compensation appears reasonable for a company of this size and profit level.
Management Team Tenure

Average tenure and age of the Apple management team in years:

4
Average Tenure
53
Average Age
  • The tenure for the Apple management team is about average.
Management Team

Tim Cook

TITLE
CEO & Director
COMPENSATION
$13M
AGE
56
TENURE
6.8 yrs

Luca Maestri

TITLE
CFO & Senior VP
COMPENSATION
$24M
AGE
53
TENURE
4 yrs

Ron Okamoto

TITLE
Head of Developer Relations
COMPENSATION
$397K

Dan Riccio

TITLE
Senior Vice President of Hardware Engineering
COMPENSATION
$24M
AGE
54
TENURE
5.8 yrs

Angela Ahrendts

TITLE
Senior Vice President of Retail
COMPENSATION
$24M
AGE
56
TENURE
4 yrs

Johny Srouji

TITLE
Senior Vice President of Hardware Technologies
COMPENSATION
$24M
AGE
52
TENURE
2.4 yrs

Jeff Williams

TITLE
COO & Senior VP
COMPENSATION
$24M
AGE
53
TENURE
2.4 yrs

Chris Kondo

TITLE
Senior Director of Corporate Accounting
TENURE
3.4 yrs

Kevin Lynch

TITLE
Vice President of Technology
AGE
50
TENURE
5.2 yrs

Nancy Paxton

TITLE
Senior Director of Investor Relations and Treasury
Board of Directors Tenure

Average tenure and age of the Apple board of directors in years:

6.6
Average Tenure
66.5
Average Age
  • The tenure for the Apple board of directors is about average.
Board of Directors

Art Levinson

TITLE
Non-Executive Chairman of the Board
COMPENSATION
$556K
AGE
67
TENURE
6.5 yrs

Tim Cook

TITLE
CEO & Director
COMPENSATION
$13M
AGE
56
TENURE
6.8 yrs

Andrea Jung

TITLE
Director
COMPENSATION
$384K
AGE
59
TENURE
10.3 yrs

Ron Sugar

TITLE
Director
COMPENSATION
$391K
AGE
68
TENURE
7.5 yrs

Bob Iger

TITLE
Director
COMPENSATION
$383K
AGE
66
TENURE
6.5 yrs

Al Gore

TITLE
Director
COMPENSATION
$357K
AGE
69
TENURE
15.3 yrs

Sue Wagner

TITLE
Director
COMPENSATION
$352K
AGE
56
TENURE
3.8 yrs

James Bell

TITLE
Director
COMPENSATION
$354K
AGE
68
TENURE
2.6 yrs
Recent Insider Trading
  • Apple insiders have only sold shares in the past 3 months.
Who owns this company?
X
Management checks
We assess Apple's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Apple has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AAPL News

External News
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Simply Wall St News

Apple Inc (NASDAQ:AAPL): Has Recent Earnings Growth Beaten Long-Term Trend?

See our latest analysis for Apple Did AAPL beat its long-term earnings growth trend and its industry? … Let's see whether it is merely a result of an industry uplift, or if Apple has seen some company-specific growth. … This means any uplift the industry is benefiting from, Apple is able to amplify this to its advantage.What does this mean?

Simply Wall St -

Only 3 Days Left To Cash In On Apple Inc (NASDAQ:AAPL) Dividend, Is It Worth Buying?

View our latest analysis for Apple 5 questions I ask before picking a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is it the top 25% annual dividend yield payer? … If dividend is a key criteria in your investment consideration, then you need to make sure the dividend stock you're eyeing out is reliable in its payments. … But if you are not exclusively a dividend investor, the stock could still be an interesting investment opportunity.

Simply Wall St -

Should Apple Inc (NASDAQ:AAPL) Be Part Of Your Portfolio?

Check out our latest analysis for Apple 5 checks you should do on a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is its annual yield among the top 25% of dividend-paying companies? … However, going forward, analysts expect AAPL's payout to fall to 21.85% of its earnings, which leads to a dividend yield of 1.81%. … Given that this is purely a dividend analysis, you should always research extensively before deciding whether or not a stock is an appropriate investment for you.

Simply Wall St -

Is Apple Inc (NASDAQ:AAPL) Expensive For A Reason? A Look At The Intrinsic Value

I am going to run you through how I calculated the intrinsic value of Apple Inc (NASDAQ:AAPL) by projecting its future cash flows and then discounting them to today's value. … 5-year cash flow estimate 2018 2019 2020 2021 2022 Levered FCF ($, Millions) $59,705.57 $64,268.07 $68,250.33 $63,246.00 $62,310.67 Source Analyst x19 Analyst x15 Analyst x6 Analyst x3 Analyst x3 Present Value Discounted @ 10.76% $53,903.54 $52,384.17 $50,224.08 $42,018.71 $37,374.42 Present Value of 5-year Cash Flow (PVCF)= $235,905 The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = $62,311 × (1 + 2.5%) ÷ (10.8% – 2.5%) = $769,855 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $769,855 / ( 1 + 10.8%)5 = $461,765 The total value, or equity value, is then the sum of the present value of the cash flows, which in this case is $697,670.

Simply Wall St -

What Is Driving Apple Inc's (NASDAQ:AAPL) Margins In The Next Few Years?

Margin Calculation for AAPL Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 50.53 Billion ÷ 239.18 Billion = 21.12% There has been a contraction in Apple's margin over the past five years, with 10.08% in average revenue growth exceeding 7.15% in average net income growth, indicating that that a smaller percentage of revenue is being converted in to net income despite the top line growth. … Using Apple's margin expectations as a way to understand projections for the future Forward looking projections suggest margins will reverse its previous trend and start to expand, with annual revenue growth tipped at 4.08% and a forecasted 6.11% in annual net income growth. … This suggests future earnings growth is driven further by enhanced cost efficiency alongside revenue increases, which is enlarging the incremental amount of net income that is retained from the forecasted revenue growth.

Simply Wall St -

Is Apple Inc's (NASDAQ:AAPL) Balance Sheet A Threat To Its Future?

With this increase in debt, the current cash and short-term investment levels stands at US$74.40B , ready to deploy into the business. … Additionally, AAPL has generated cash from operations of US$63.60B during the same period of time, resulting in an operating cash to total debt ratio of 54.98%, signalling that AAPL’s operating cash is sufficient to cover its debt. … Next Steps: AAPL’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

Why Apple Inc's (NASDAQ:AAPL) CEO Salary Matters To You

Earnings is a powerful indication of AAPL's ability to invest shareholders' funds and generate returns. … NasdaqGS:AAPL Past Future Earnings Mar 22nd 18 Is AAPL's CEO overpaid relative to the market? … Taking into account AAPL's size and performance, in terms of market cap and earnings, it seems that Cook is paid on a similar level to other comparable US CEOs of profitable large-caps.

Simply Wall St -

What Does Apple Inc's (NASDAQ:AAPL) Ownership Structure Look Like?

Today, I will be analyzing Apple Inc’s (NASDAQ:AAPL) recent ownership structure, an important but not-so-popular subject among individual investors. … Check out our latest analysis for Apple NasdaqGS:AAPL Ownership_summary Mar 13th 18 Institutional Ownership With an institutional ownership of 59.45%, AAPL can face volatile stock price movements if institutions execute block trades on the open market, more so, when there are relatively small amounts of shares available on the market to trade However, as not all institutions are alike, such high volatility events, especially in the short-term, have been more frequently linked to active market participants like hedge funds. … Private Company Ownership Another important group of owners for potential investors in AAPL are private companies that hold a stake of 0.000099% in AAPL.

Simply Wall St -

Is It Time To Buy Apple Inc (NASDAQ:AAPL)?

According to my valuation model, Apple seems to be fairly priced at around 19% above my intrinsic value, which means if you buy Apple today, you’d be paying a relatively fair price for it. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … AAPL’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

What is Behind Apple Inc's (NASDAQ:AAPL) Superior ROE?

Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … ROE can be broken down into three different ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:AAPL Last Perf Feb 27th 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

Simply Wall St -

AAPL Company Info

Map
Description

Apple Inc. designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications. It offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as operating systems comprising iOS, macOS, watchOS, and tvOS. The company also provides iWork, an integrated productivity suite that helps users create, present, and publish documents, presentations, and spreadsheets; and other application software, such as Final Cut Pro, Logic Pro X, and FileMaker Pro. In addition, it offers Apple TV that connects to consumers’ TV and enables them to access digital content directly for streaming high definition video, playing music and games, and viewing photos; Apple Watch, a personal electronic device; and iPod touch, a flash memory-based digital music and media player. Further, the company sells Apple-branded and third-party accessories, such as headphones, displays, storage devices, Beats products, and other connectivity and computing products and supplies. Additionally, it offers iCloud, a cloud service that stores music, photos, contacts, calendars, mail, documents, and others; AppleCare, which offers support options for its customers; and Apple Pay, a cashless payment service. The company sells and delivers digital content and applications through the iTunes Store, App Store, Mac App Store, TV App Store, iBooks Store, and Apple Music. It also sells its products through its retail and online stores, and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers, and value-added resellers. Apple Inc. was founded in 1977 and is headquartered in Cupertino, California.

Details
Name: Apple Inc.
AAPL
Exchange: NasdaqGS
Founded: 1977
$922,227,342,940
4,915,138,000
Website: http://www.apple.com
Address: Apple Inc.
1 Infinite Loop,
Cupertino,
California, 95014,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS AAPL Common Stock Nasdaq Global Select US USD 12. Dec 1980
DB APC Common Stock Deutsche Boerse AG DE EUR 12. Dec 1980
XTRA APC Common Stock XETRA Trading Platform DE EUR 12. Dec 1980
LSE 0R2V Common Stock London Stock Exchange GB USD 12. Dec 1980
SWX AAPL Common Stock SIX Swiss Exchange CH CHF 12. Dec 1980
WBAG AAPL Common Stock Wiener Boerse AG AT EUR 12. Dec 1980
SNSE AAPL Common Stock Santiago Stock Exchange CL USD 12. Dec 1980
BVC AAPL Common Stock Bolsa de Valores de Colombia CO COP 12. Dec 1980
BMV AAPL * Common Stock Bolsa Mexicana de Valores MX MXN 12. Dec 1980
BVL AAPL Common Stock Bolsa de Valores de Lima PE USD 12. Dec 1980
BOVESPA AAPL34 BDR REPR 1/10 COM NPV Bolsa de Valores de Sao Paulo BR BRL 06. May 2011
BASE AAPL CEDEAR(REPR 1/10 SHR) (ARS) Buenos Aires Stock Exchange AR ARS 28. Aug 2012
Number of employees
Current staff
Staff numbers
123,000
Apple employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/05/23 04:08
End of day share price update: 2018/05/22 00:00
Last estimates confirmation: 2018/05/21
Last earnings update: 2018/03/31
Last annual earnings update: 2017/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.