US Nasdaq stock report - Apple


Apple accelerates decline, issued 58 new patents April 20, 2018 16:00 EDT


Apple Inc. (NASDAQ:AAPL), the NASDAQ's largest Computer integrated systems company by market cap, has sunk $US12.12 (6.8%) over the past two trading days, compared with the NASDAQ-100 Index which fell 165.5 points (2.4%) in the two days for a relative price change of -4.4%. The fall was exacerbated by a cumulative 2-day volume of 1.6 times the average 2-day volume of 30.2 million shares. The shares fell 2.8% on Thursday and 4.1% on Friday to close at $US165.72.


Apple (AAPL) has been issued 58 new patents by the USPTO and EPO.


Apple (NASDAQ:AAPL) institutional shareholder Fisher Asset Management, LLC (CIK:0000850529) bought 1,128,082 shares in the quarter ended March 31, 2018 worth $US189.3 million at an estimated Volume Weighted Average Price (VWAP) of USD170.56. At the end of the quarter Fisher Asset Management, LLC held 12,335,056 shares worth $US2.1 billion.


Apple (NASDAQ:AAPL) institutional shareholder Davis R M Inc. (CIK:0000891287) sold 13,943 shares in the quarter ended March 31, 2018 worth $US2.3 million at an estimated Volume Weighted Average Price (VWAP) of USD170.56. At the end of the quarter Davis R M Inc. held 436,305 shares worth $US74.4 million.


Apple surges 228% in 5 years

Apple Inc. (NASDAQ:AAPL), has surged $US115.18 (or 227.9%) in the past five years to close at $US165.72. Compared with the NASDAQ-100 Index which has risen 139.8% over the same period, this is a relative price increase of 88.1%.

Highlights in today's Report:


Fundamentals, Technicals, Short Selling and Open Interest, Low Performance Indicator


Fundamentals, Undervaluation [compared with sector average], Technicals, Oversold/Bullish/Support Signals, High Performance Indicators


Technicals, Moving Annual Return, Turnover Rate & Turnover Period


Global, Independent Ratings


Financials Summary, Trailing 12 Months Dividends


Time [Yrs Mo Days] and Yield to Maturity as on Apr 19, 2018, Key Statistics, Yield Curve - Apple Bond vs US Treasury, Apple Corporate Bonds Maturing in This Quarter


Activities, Industry & Sector, Top Management, Issued Capital


Insider Selling, Institutional Buying and Selling Quarter Ended December 31, Reported Holdings of Institutions as at Dec 31, 2017



Latest Buzz, Corporate Wire


1.1 Fundamentals:

+ Tobin's Q Ratio, defined as MCap divided by Total Assets, is 2.2. Compared with the rest of the market the stock is overvalued.

1.2 Technicals:

Downtrend: The stock dropped 4.1% on high volatility today.

+ The stock's relative price strength percentile is falling at 62 for 6 months, 43 for 3 months and 30 for 1 month.

1.3 Short Selling and Open Interest:

+ The current short volume is 1.3 times its own historical average of 0.1%.

Open Interest Trend

Same day trend: The price sank 4.1% from $US172.80 to $US165.72; Open interest has jumped 6.2% from 787,796 to 836,402. A fall in price combined with an increase in open interest suggests there is new money coming into the market from short sellers. This is a bearish signal.

DurationOpen Interest change %Price change %Interpretation
1-day6.2-4.1Weak Market

% Change in Put Call Ratio

Put Call Ratio1 Day1 WeekInterpretation
Change %22.717.1Downtrend

Top three traded put options [1 contract is 100 shares]

Exercise PriceExercise DateOption PriceChange %Contracts Traded
$US172.50April 20, 201877.0c755.626625
$US175.0April 20, 2018$US2.38781.521461
$US170.0April 20, 201820.0c400.016967

1.4 Low Performance Indicator:

DescriptionValueRank In Market
Price Change %-4.1In Bottom 8%


2.1 Fundamentals:

+ The relative yield of the stock, defined by its yield of 1.5%, divided by average yield of dividend yielding stocks in the NASDAQ-100 Index of 1.1% is 142.1%. This suggests the stock is undervalued in dividend yield terms.

+ Total Liabilities/EBITDA of 3.8 is comfortably below the Joseph Piotroski benchmark of 5.

+ As per the Du Pont analysis, Return on Equity is high at 36.1%. This is computed as net profit margin of 21.1% times asset turnover [sales/assets] of 0.62 times leverage factor [total assets/shareholders' equity] of 2.8. Also, this has improved from 35.6% last year.

Du Pont AnalysisROEProfit MarginAsset TurnoverEquity Multiplier
Current Year36.121.10.622.8
Previous Year35.621.20.672.5

+ Net Profit margin is positive and has seen consecutive rises in recent quarters. [Quarter ended, all figures in %]

QtrRevenue GrowthNet Profit GrowthNet Profit Margin
Dec 1767.987.322.7
Sep 1715.822.920.4
Jul 17-14.2-2119.2

2.2 Undervaluation [compared with sector average]:

+ Price/Earnings/Growth of 1.3 [1.6].

2.3 Technicals:

+ The present value of $US1,000 (PV1000) invested one year ago in Apple is $US1,201, comprising a capital gain of $US182 and dividend reinvested of $US19.

NASDAQ-100 Index1,0061,0131,225

+ The present value of USD1,000 (PV1000) invested thirty years ago in Apple is $US144,141, including a capital gain of $US128,126 and dividend reinvested of $US15,016.

+ 30 years Multiplier in USD = 144.141x

+ Compound Annual Growth Rate (CAGR) in USD = 17.8%

2.4 Oversold/Bullish/Support Signals:

+ The stock is oversold according to the Williams % R indicator of -93.3, suggesting the price is close to its 14-day low of $US164.77.

2.5 High Performance Indicators:

DescriptionValueRank In Market
Today's Turnover$US10.7 billionIn Top 1%
Return on Assets [ROA] %12.9In Top Quartile
Return on Capital Employed [ROCE] %23.3In Top Quartile


3.1 Technicals:

+ Volume: there were 64,477,944 shares worth $US10.7 billion traded today. In the past week, volume was 1.1 times average and the shares were down 5.2%. The fall was exacerbated by high volume of 2.1 times the average daily volume of 30.2 million shares.

+ Apple is at a discount of 9.7% to its 12-month high of $US183.50 on March 13. It is also at a premium of 18.7% to the 12-month low of $US139.64 on April 21, 2017.

3.2 Moving Annual Return

Based on a dynamic start date of 5 years ago, the Moving Annual Return has been positive in 4 of the last 5 years. An investment a year ago in AAPL would have produced a return of 20.0%.

AAPLClose (USD)Dividends (USD)Capital Gain / (Loss) %% YieldAnnual Return %
Apr 20165.722.5218.21.820.0
1 Yr ago140.222.2836.12.238.3
2 Yrs ago103.072.08(12.7)1.8(11.0)
3 Yrs ago118.091.8869.52.772.2
4 Yrs ago69.661.7437.83.441.3

Close 5 years ago $US50.54

3.3 Turnover Rate & Turnover Period:

+ The turnover rate in the 12 months to date was 142.7% (or a turnover period of 8 months). This average length of ownership of the stock at 1.2 times the average holding period of 6 months for stocks in the NASDAQ-100 Index suggests a larger number of core investors, making a long-term investment safer.


4.1 Global Rank [out of 47,666 stocks] and Rank in the American Region [out of 11,948 stocks]

DescriptionValueGlobal RankIn Am Region
MCap (US$)840.9B11
Total Assets (US$)375.3B212105
Revenue (US$)232B176
Net Profit (US$)48.4B52
Return on Equity %36.11,217433
Net Profit Margin %21.15,5041,502
Price to Book6.830,3625,234
Yield %1.514,6593,321
PV$1000 (1Year) US$1,20112,0842,623
US$ Change (1Year) %18.314,3382,967

4.2 Independent Ratings

+ Top 50 BCG:

Apple Inc. was ranked 1 in Boston Consulting Group's list of Top 50 Most Innovative Companies 2016; unchanged over a year from the same rank 1 in 2015.

+ Citi Top 50:

It was ranked in Citi's Top 50 global cash cows with reinvest-to-payout ratio of 0.28.

+ Clarivate 100:

It is ranked in the Top 100 innovators by Clarivate Analytics.

+ PwC 100:

It was ranked 1 by MCap as at March 31, 2015 by PwC in the Top 100 Global companies; an improvement over 6 years from rank 33 as at March 31, 2009.

+ PwC Top100 Software Leaders:

It is the 28th largest by revenue and largest by MCap among the PwC Global Software Leaders.

+ FT 500:

It is the 13th largest by revenue in the FT Global 500.

+ Fortune 500:

It was ranked 9 by total revenues in the Fortune 500 annual list for 2017; unchanged over a year from the same rank 9 in 2013.

+ Newsweek 500:

It was ranked 26 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 15% in Carbon productivity, 11.7% in Water productivity and 11.3% in Waste productivity.

+ Industryweek 1000:

It is a new entrant in the Industry Week list of the world's largest 1000 manufacturers by Revenues in 2016, ranked 7.

+ Forbes 2000:

It is the 11th largest by revenue in the Forbes Global 2000.

+ BSS/News Bites:

It is placed 840/2187 in BSS News Bites' ranking of NASDAQ performers in the past year, a percentile ranking of 62.

+ Vanguard Total World Stock ETF 7517:

The stock was one of 7517 global stocks selected by Vanguard Total World Stock ETF (VT) who bought 59,577 shares in the period Nov 30, 2017 to Jan 31, 2018 worth $US10,339,684 at an estimated Volume Weighted Average Price (VWAP) of $US173.5516. As at Jan 31, 2018, the Vanguard Total World Stock ETF held 1,485,897 shares worth $US257,879,802 or 1.55% by value of the ETF's portfolio [Ranked 2 out of 7517 by value and 1 out of 689 for NASDAQ].


5.1 Financials Summary

Year endedSep 2017Sep 2016Sep 2015
Sales (USD B)232217233.7
Pretax (USD B)64.161.472.5
Net (USD B)48.445.753.4
EPS (USD)9.218.319.22

Net profit was up 5.8% from US$45.7 billion in 2016 to US$48.4 billion in 2017. Earnings Per Share (EPS) was up 10.8% from $US8.31 to $US9.21.

5.2 Trailing 12 Months Dividends

Trailing 12 Months ToValue ($US)
20 Apr 20182.52
20 Apr 20172.28
20 Apr 20162.08
20 Apr 20151.88
20 Apr 20141.74


For Company searches and sorting by bonds and variables, an interactive version of current day's Table is available here: click here

6.1 Time [Yrs Mo Days] and Yield to Maturity as on Apr 19, 2018

CUSIPTime to MaturityYld (%)Treasury (%)Spread (%)YTM Chng 3 Mo (bps)Moody'sS&P
037833AZ36 yrs 9 mo 20 d3.52.870.6274--
037833BG47 yrs 23 d3.462.870.5833--
037833AP51 yr 16 d3.42.181.22129--
037833AK65 yrs 13 d3.192.760.4341Aa1AA+
037833BU34 yrs 10 mo 3 d3.172.760.4139--
037833CC23 yrs 3 mo 15 d2.942.590.3533--
037833AR13 yrs 16 d2.872.590.2938Aa1AA+
037833BS82 yrs 10 mo 3 d2.812.590.2230--
037833CS72 yrs 21 d2.622.440.1832--
037833AX81 yr 9 mo 18 d2.592.440.1540--
037833BD12 yrs 16 d2.552.440.1223--
037833CK41 yr 9 mo 18 d2.482.440.0531--
037833CL21 yr 9 mo 18 d2.462.440.0368--
037833CT52 yrs 21 d2.452.440.0261--
037833AQ31 yr 16 d2.272.180.0919Aa1AA+

6.2 Key Statistics

MaturityYield to maturity %Yrs to Maturity% Rise/Fall 3-mo
May 20182.03 to to 0.21
Feb to Aug 20192.27 to 3.40.8 to 1.29-0.66 to -0.03
Feb to May 20202.16 to 2.621.8 to 2.06-0.55 to 0.03
Feb to Aug 20212.57 to 2.942.84 to 3.29-1.17 to -0.62
Feb to May 20222.56 to 3.093.81 to 4.07-1.17 to -0.28
Feb to May 20233.17 to 3.194.84 to 5.04-1.83 to -1.72
Feb to May 20243.29 to 3.375.81 to 6.06-2.09 to -1.49
Feb to May 20253.46 to 3.56.81 to 7.07-4.4 to -2.09
Feb to Aug 20263.52 to 3.567.84 to 8.29-2.43 to -2.02
Feb to May 20273.56 to 3.618.81 to 9.06-3.13 to -1.95
Feb 20363.8117.84-3.23

6.3 Yield Curve - Apple Bond vs US Treasury

Years to MaturityApple Bond Yield (%)Treasury Yield (%)Spread to Treasury(Basis Points)

The yield curve is upward sloping which is typical. The term premium between the yield of a 7-year Apple Inc. bond of 3.5% and the yield of a 2 year bond of 2.62% is 0.88%. Further, the yield curve is steepening from a term premium of 0.79% a month ago to a current level of 0.88%. This indicates investor expectations of rising inflation and/or increasing demand for longer-term bonds. In comparison, the term premium of Treasury is 0.43%, down from 0.5% a month ago.

6.4 Apple Corporate Bonds Maturing in This Quarter

CUSIPDays to MatureLast PriceYield %YTM Chng 3 Mo (bps)


7.1 Activities

Apple Inc. designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers.

7.2 Industry & Sector

Classification LevelName of Sector
Business SectorTechnology Equipment
Industry GroupComputers, Phones & Household Electronics
IndustryComputer Hardware
ActivityComputer Hardware - NEC*
Economic SectorTechnology

* NEC: Not elsewhere classified

7.3 Top Management

The chairman is Arthur D. Levinson, the chief executive officer is Timothy D. Cook and the chief financial officer is Luca Maestri.

7.4 Issued Capital

Based on 5,074,013,000 issued shares the market capitalisation is $US840.9 billion.


8.1 Insider Selling

April 16: Apple insider sells

Apple (NASDAQ:AAPL) insider Luca Maestri sold 38,022 shares worth $US6,640,542 on April 12. The selling price was $US174.65. The shares hit a 16-day high on the day.

April 16: Apple insider sells

Apple (NASDAQ:AAPL) insider Luca Maestri sold 1,100 shares worth $US192,390 on April 13. The selling price was $US174.90. The shares hit a one-month high on the day.

April 06: Apple insider sells

Apple (NASDAQ:AAPL) insider Dan Riccio sold 17,375 shares worth $US2,938,512 on April 04. The selling price was $US169.12. The shares hit an eight-day high on the day.

April 05: Apple insider sells

Apple (NASDAQ:AAPL) insider Schiller Philip W sold 69,491 shares worth $US11,564,679 on April 03. The selling price was $US166.42.

January 09: Apple insider sells

Apple (NASDAQ:AAPL) insider Dan Riccio sold 15,641 shares worth $US2,733,800 on January 05. The selling price was $US174.78. The shares hit a 14-day high on the day.

8.2 Institutional Buying and Selling Quarter Ended December 31

Total reported Institutional buying = 121,922,744 shares

Total reported Institutional selling = 147,267,218 shares

Net reported institutional selling = 25,344,474 shares

8.3 Reported Holdings of Institutions as at Dec 31, 2017

Total = 3,064,857,760 shares

Market Value = $US519.1 billion


Issued April 18, 2018




Power consumption optimization for cellular communication via power amplifier biasing [9,949,216]

Location determination [9,949,227]

Apparatus, system and method for VoLTE call continuity [9,949,311]

Preemptive address mapping for server load balancing [9,948,706]

Continuing an activity commenced on a source device with a companion device [9,948,728]

Estimating rate costs in video encoding operations using entropy encoding statistics [9,948,934]

Perforated mother sheet for partial edge chemical strengthening and method therefor [9,944,554]

Centralized beacon management service [9,949,200]

Cell utilization estimation by a wireless device [9,949,153]

Wi-Fi based location availability for sparse signal locations [9,949,137]

Updating profiles for secondary wireless devices [9,949,113]

Bluetooth low energy triggering NAN for further discovery and connection [9,949,063]

Stereo and filter control for multi-speaker device [9,949,057]

Directivity speaker array [9,949,032]

Wireless headset carrying case with wireless transmitter [9,949,015]

User interface for searching [9,946,771]

Automatic language identification for dynamic text processing [9,946,706]

Media player framework [9,946,583]

Development environment for multiple electronic devices [9,946,560]

Software updating [9,946,533]

Device, method, and graphical user interface for selecting user interface objects [9,946,447]

Display, touch, and stylus synchronization [9,946,366]

Gaskets for thermal ducting around heat pipes [9,946,316]

Desktop consumer electronic device [9,946,315]

Low-profile power and data contacts [9,948,018]

Electronic devices with light sensors and displays [9,947,901]

Electronic devices with robust flexible displays [9,947,882]

Devices and methods for operating a timing controller of a display [9,947,277]

Ambient light adaptive displays [9,947,259]

Electronic device display with monitoring circuitry [9,947,255]

Method of image processing for an augmented reality application [9,947,141]

Providing variants of digital assets based on device-specific capabilities [9,947,069]

Methods and apparatuses for secure compilation [9,946,873]

Display screen or portion thereof with graphical user interface [D815,661]

Display screen or portion thereof with graphical user interface [D815,651]

Display screen or portion thereof with graphical user interface [D815,649]

Electronic device [D815,634]

Electronic device [D815,633]

Electronic device [D815,632]

Exposed glass article with inner recessed area for portable electronic device housing [9,946,302]

Auxiliary electronic device attachable to a wearable electronic device [9,946,297]

Flexible keyboard accessory for a portable electronic device [9,946,296]

Flexible keyboard accessory for a portable electronic device [9,946,295]

Gate driver control circuit [9,946,101]

GNSS positioning using three-dimensional building models [9,945,956]

Frequency-based direction guidance [9,945,684]

Heat exchangers in sapphire processing [9,945,613]

Secure software updates [9,948,617]

Efficient auto detection for next generation WLAN [9,948,546]

Power management systems for accepting adapter and solar power in electronic devices [9,948,109]

Connector insert assembly [9,948,042]

Method and system for rendering content using templates [9,948,749]

Multipath TCP subflow establishment and control [9,948,725]

Multi-layer thin-film coatings for system-in-package assemblies in portable electronic devices [9,949,359]

Electronic device including movable magnet based actuator for deforming a display and related methods [9,949,390]

To view more details on these Patents, click here


To view the Stock BUZZ on Apple, click here

10.1 Latest Buzz

News DateHeadlinePublisher
Apr 19, 2018Apple, Procter & Gamble Sink the Dow Thursday24/7 Wall St.
Apr 19, 2018AAPL) Apple Inc (NASDAQDogs
Apr 19, 2018TSMC shares slide as revenue estimate cut; other Apple, chip
Apr 19, 2018Apple has a new iPhone-destroying robot called Daisy that can One News Page
Apr 19, 2018Apple, Philip Morris, chips lead slide on Wall StreetStreetInsider
Apr 19, 2018Thursday Apple Rumors: 2018 iPhone X May Start at $550Yahoo Finance
Apr 19, 2018Here's Who Wins If Apple Inc. Ditches Intel Corp.Yahoo New Zealand
Apr 19, 2018Apple's iPhone SE 2 will likely debut at WWDC in
Apr 19, 2018Apple Adds Earth Day Donations to Trade-in and Recycling
Apr 18, 2018Analysts See $0.44 EPS for PetMed Express, Inc. (PETS); Fayerweather Charles Decreased Its Apple (AAPL) HoldingBibey Post
Apr 18, 2018Apple Inc. s iPhone X Over Twice as Profitable As Android ManufacturersInvestorPlace
Apr 18, 2018Apple is an 'uninspired investment,' CNBC cites analyst as sayingProactiveinvestors
Apr 18, 2018Apple (AAPL) Stock Rating Lowered by
Apr 18, 2018Zacks Investment Research Lowers Apple (AAPL) to
Apr 18, 2018Apple's (AAPL) "Outperform" Rating Restated at Cowen and
Apr 18, 2018Apple iPhone X contributed 35% of the smartphone industry's
Apr 17, 2018Apple Inc. (NASDAQ:AAPL) Technicals Indicate Stock Live Trading News
Apr 17, 2018Watch for Apple Inc to Potentially Pullback After Gaining 1.54% SmarTrend
Apr 16, 2018Ward, Smith & Hill Helps Secure $502.6M Patent Infringement Win Against AppleThe Business Journals
Apr 16, 2018Apple Is Making a Push For iPhone 3-D SensingU.S. News Money
Apr 16, 2018Analysts See $2.71 EPS for Apple Inc. (AAPL)

10.2 Corporate Wire

To view Recent Company Headlines, click here

March 27: Apple Unveils Everyone Can Create Curriculum to Spark Student Creativity

Apple Introduces Schoolwork, a Powerful New App that Personalizes Learning

CHICAGO---- Building on its 40-year history in transforming education, Apple today announced a new 9.7-inch iPad with support for Apple Pencil* and programs designed to spark student creativity and inspire them to succeed. Everyone Can Create is a new, free curriculum that makes it fun and easy for teachers to integrate drawing, music, filmmaking or photography into their existing lesson plans for any subject.

March 27: Apple Introduces New 9.7-inch iPad with Apple Pencil Support

Featuring Even Greater Performance and Designed for Powerful AR Apps, Starting at $329

CHICAGO---- Apple today updated its most popular iPad with support for Apple Pencil plus even greater performance, starting at $329. The new 9.7-inch iPad and Apple Pencil give users the ability to be even more creative and productive, from sketching ideas and jotting down handwritten notes to marking up screenshots.

March 14: Rise in Global Popularity for Digital Wallets and Mobile Payment Apps Giving Consumers More Secure Options

PALM BEACH, Florida, March 14, 2018 -- News Commentary

As digital wallets become more prevalent, it's not surprising that a growing number of retailers are embracing the trend to increase and facilitate more sales. Digital payments, through apps like Apple Pay, Venmo and Zelle, are faster, easier and generally more secure than some traditional payment methods.

March 14: Events Calendar: Apple's Worldwide Developers Conference Kicks off June 4 in San Jose

CUPERTINO, Calif.- - Apple(Registered) today announced it will host its 29th annual Worldwide Developers Conference in San Jose from June 4 through June 8. The McEnery Convention Center will be home to the world's most creative developer community, who come together every year to share unique perspectives and learn about the future of Apple's breakthrough products and services.

February 22: Apple Opens its First Store in Austria Saturday

VIENNA---- Apple Karntner Strasse, Apple's first store in Austria, will open Saturday at 9:30 a.m. in the heart of Vienna. Nestled on the famous pedestrian shopping street between St. Stephen's Cathedral and the Vienna State Opera, the store's 150 employees will invite visitors to experience the creative sessions and services offered in Apple Stores around the world.

"We can't wait to join the bustling city of Vienna, a European crossroads so rich in history and culture," said Angela Ahrendts, Apple's senior vice president of Retail.

Contact: +1 408 996-1010

Physical Address: 1 Infinite Loop, Cupertino, CA,95014

State/Province/Country: CA, United States

Country of Incorporation: United States

Industry [NAICS]: 334220

Exchange: NASDAQ

ISIN: US0378331005


PermID: 4295905573


CIK: 320193

CUSIP: 037833100

Apple Inc, Apple, Inc