Apple
One sentence overview: Apple designs, develops and sells the iPhone along with an App Store with over 2 million apps.
Company Ticker: AAPL
May 23, 2020 Stock Price: $318.89
May 23, 2020 Market Cap : $1.38T
Total Shares Outstanding Recent Quarterly Report : 4.40 billion shares
| Jan 2020 | March Low | Mar 31 | May 23, 2020 | YTD % | |
| Apple | 300 | 224 | 254 | 319 | 6.3% |
| S&P 500 | 3231 | 2237 | 2585 | 2955 | -9.0% |
Apple Investor Relations Page
https://investor.apple.com/investor-relations/default.aspx
Apple SEC Page
https://www.sec.gov/cgi-bin/browse-edgar?CIK=aapl&Find=Search&owner=exclude&action=getcompany
Apple Glassdoor Ratings
https://www.glassdoor.com/Reviews/Apple-Reviews-E1138.htm
Apple Overview
History
Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak’s Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple II, grew quickly. Within a few years, Jobs and Wozniak had hired a staff of computer designers and had a production line. Apple went public in 1980 to instant financial success. Over the next few years, Apple shipped new computers featuring innovative graphical user interfaces, such as the original Macintosh in 1984, and Apple’s marketing advertisements for its products received widespread critical acclaim. However, the high price of its products and limited application library caused problems, as did power struggles between executives. In 1985, Wozniak departed Apple amicably and remained an honorary employee, while Jobs and others resigned to found NeXT. Jobs, who had been ousted from the company in 1985, returned to Apple in 1996 after his company NeXT was bought by Apple. The following year he became the company’s interim CEO, which later became permanent. Jobs subsequently instilled a new corporate philosophy of recognizable products and simple design, starting with the original iMac in 1998.
Products
Apple’s first product was the Apple IIe in 1980.
- Apple Macintosh 1988
- iPod 2001
- iPhone 2007
- Apple TV 2007
- iPad 2010
- Apple Watch 2014
- HomePod 2018
Business and Financial Drivers
Apple’s services business is led by the App Store and Apple Music. Analysts would say that Apple had evolved its service business so much that it was worth over $500 billion, while Apple’s hardware business is worth around $400 billion. This would make Apple’s services business worth more than its hardware business.
Competition
On the hardware side of the business, Dell Technologies, HP, Lenovo, Sony and ASUStek are compete with Apple. For smartphones, Samsung is the major competitor.
Future Outlook
On May 22, 2020 The 38 analysts offering 12-month price forecasts for Apple Inc have a median target of 320.00, with a high estimate of 370.00 and a low estimate of 195.43. The median estimate represents a +0.37% increase from the last price of 318.81.
Risks
In the near term, Apple’s supply chain is vulnerable.
COVID-19 will impact sales for the foreseeable future.
Disclaimer: I do not have any formal recommendation for or against this stock, so don’t buy or sell stocks based solely on what you read.
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