US Nasdaq stock report - Apple

USA

Apple falls for a third consecutive day, a three-day fall of 2.5% August 18, 2017 16:00 EDT

NEWS BITES - NORTH AMERICA

Apple Inc. (NASDAQ:AAPL), NASDAQ's largest Computer integrated systems company by market cap, has fallen 36.0c (0.2%) for a third consecutive day on Friday. This brought its three-day fall to $US4.10 (2.5%), compared with the NASDAQ-100 Index which fell 116.8 points (2.0%) in the three days for a relative price change of -0.6%. The cumulative volume in the 3 days was at about its average 3-day volume of 28.8 million shares. The stock last traded at $US157.50.

DIRECTORS SELLING

Kondo Chris insider sold 6,209 shares worth $US1,005,610 on August 16. The price was $US161.96.

INSTITUTIONAL BUYING

Apple (NASDAQ:AAPL) institutional shareholder Cookson Peirce & Co Inc. (CIK:0001141455) bought 49,618 shares in the quarter ended June 30, 2017 worth $US7.1 million at the estimated Volume Weighted Price (VWP) of USD148.08. At the end of the quarter Cookson Peirce & Co Inc. held 144,798 shares worth $US21.4 million.

INSTITUTIONAL SELLING

Apple (NASDAQ:AAPL) institutional shareholder Winton Capital Group Ltd (CIK:0001612063) sold 219,036 shares in the quarter ended June 30, 2017 worth $US31.4 million at the estimated Volume Weighted Price (VWP) of USD148.08. At the end of the quarter Winton Capital Group Ltd held 219,921 shares worth $US32.6 million. Net decrease in holdings over the last two years and nine months was 504,805 shares (70% of the shares held two years and nine months ago).

APPLE ISSUED 36 NEW PATENTS IN THE WEEK OF AUGUST 16, 2017

Apple (AAPL) has been issued 36 new patents by the US Patent and Trademark Office. For details see Section 9

SECTION 1

APPLE BEARISH SIGNALS

1.1 Fundamentals:

+ Tobin's Q Ratio, defined as MCap divided by Total Assets, is 2.6. Compared with the rest of the market the stock is overvalued and ranks in the bottom quartile of stocks by value of Q Ratio.

5-years average annualized earnings growth rate of 16.0%

+ Revenue growth and Earnings per share growth have shown signs of deterioration in recent years. [Year ended, all figures in %]

YearRevenue GrowthEPS Growth
Sep 16-7.7-9.9
Sep 1527.942.9

1.2 Technicals:

Overbought/Bearish/Resistance Signals:

+ The Stochastic indicator of 84.2 has broken through the overbought line of 80; this indicates the price is close to its 14-day high and is likely to revert to a downtrend.

1.3 Low Performance Indicator:

DescriptionValueRank In Market
P/E * P/NTA122.59In Bottom Quartile

SECTION 2

APPLE BULLISH SIGNALS

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 1.2% is 123.6%. This suggests the stock is undervalued in dividend yield terms.

+ Total Liabilities/EBITDA of 3.2 is comfortably below the Joseph Piotroski benchmark of 5.

+ Net profit margin has averaged 21.9% in the last 3 years. This is considered superior and suggests a high margin of safety.

+ As per the Du Pont analysis, Return on Equity is high at 35.6%. This is computed as net profit margin of 21.2% times asset turnover [sales/assets] of 0.67 times leverage factor [total assets/shareholders' equity] of 2.5.

+ Revenue and Net Profit growth are negative but improving in recent quarters. [Quarter ended, all figures in %]

QtrRevenue GrowthNet Profit GrowthNet Profit Margin
Jul 17-14.2-2119.2
Apr 17-33.2-38.420.9

2.2 Technicals:

+ The 3.1% discount to 12-month high of $US162.51 against the 56.3% premium to 12-month low of $US100.75 suggests the stock continues to push for new highs.

+ In the last three months the stock has hit a new 52-week high four times, pointing to an uptrend.

+ The present value of $US1,000 (PV1000) invested one year ago in Apple is $US1,496, comprising a capital gain of $US469 and dividend reinvested of $US26.

PV$10001-week1-month1-year
AAPL.NASDAQ1,0001,0581,496
NASDAQ-100 Index9949791,204

+ The present value of USD1,000 (PV1000) invested thirty years ago in Apple is $US110,692, including a capital gain of $US98,025 and dividend reinvested of $US11,667.

+ 30 years Multiplier in USD = 110.692x

+ Compound Annual Growth Rate (CAGR) in USD = 16.8%

2.3 High Performance Indicators:

DescriptionValueRank In Market
Today's Turnover$US4.3 billionIn Top 1%
Revenue Per Employee$US1.9 millionIn Top 6%
Return on Assets [ROA] %14.2In Top 9%
Return on Capital Employed [ROCE] %25.3In Top Quartile
Price/MAP501.05In Top Quartile
Price/MAP2001.16In Top Quartile

SECTION 3

PRICE VOLUME DYNAMICS

3.1 Momentum:

+ Volume: there were 27,362,016 shares worth $US4.3 billion traded today. In the past week, volume was 0.9 times average and the shares were up 0.01%. The volume was 0.9 times the average daily trading volume of 28.8 million shares.

3.2 Moving Annual Return

AAPLClose (USD)Dividends (USD)Capital Gain / (Loss) %% YieldAnnual Return %
August 18157.52.446.92.249.2
1 Yr ago107.192.18(4.9)1.9(3.0)
2 Yrs ago112.721.9822.42.224.6
3 Yrs ago92.091.8138.72.741.5
4 Yrs ago66.381.63(20.5)2(18.6)

3.3 Beta:

+ Beta: the Beta of Apple stock is 1.1. A Beta greater than 1 suggests this is a high risk, high return stock with volatility greater than that of the market.

SECTION 4

RANKING

4.1 Global Rank [out of 47,594 stocks] and Rank in the American Region [out of 12,725 stocks]

DescriptionValueGlobal RankIn Am Region
MCap (US$)821.2B11
Total Assets (US$)321.7B236126
Revenue (US$)215.6B166
Net Profit (US$)45.7B32
Return on Equity %35.61,193414
Net Profit Margin %21.25,3501,502
Price to Book6.927,8105,416
Price/Earnings17.99,9111,930
Yield %1.513,9083,259
PV$1000 (1Year) US$1,4967,0451,565
US$ Change (1Year) %47.26,9611,585

4.2 Independent Ratings

Apple Inc. was ranked 1 in Boston Consulting Group's list of Top 50 Most Innovative Companies 2015; unchanged over a year from the same rank 1 in 2014.

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.

It was ranked 5 by total revenues in the Fortune 500 annual list for 2014; an improvement over a year from rank 6 in 2013.

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

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

It was ranked 13 in the Industry Week list of the world's largest 1000 manufacturers by Revenues in 2015; an improvement over a year from rank 15 in 2014.

It was ranked 26 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 96.3% in Carbon productivity, 95.8% in Water productivity and 94.2% in Waste productivity.

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

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

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

It is placed 357/2223 in BSS News Bites' ranking of NASDAQ performers in the past year, a percentile ranking of 84.

SECTION 5

APPLE FINANCIALS

5.1 Financials Summary

Year endedSep 2016Sep 2015Sep 2014
Sales (USD B)215.6233.7183.8
Pretax (USD B)61.472.553.5
Net (USD B)45.753.439.5
EPS (USD)8.30639.226.45

5.2 Trailing 12 Months Dividends

Trailing 12 Months ToValue ($US)
18 Aug 20172.4
18 Aug 20162.18
18 Aug 20151.98
18 Aug 20141.81
18 Aug 20131.63

SECTION 6

APPLE CORPORATE BONDS

6.1 Time [Yrs Mo Days] and Yield to Maturity as on Aug 17, 2017

CUSIPTime to MaturityYld (%)Treasury (%)Spread (%)YTM Chng 3 Mo (bps)Moody'sS&P
037833CH129 yrs 5 mo 22 d3.862.781.08--
037833CR99 yrs 8 mo 23 d2.982.190.79--
037833AZ37 yrs 5 mo 22 d2.722.010.71--
037833CU26 yrs 8 mo 23 d2.62.010.6--
037833AS96 yrs 8 mo 18 d2.432.010.42-25Aa1AA+
037833CQ14 yrs 8 mo 23 d2.121.760.36--
037833BF64 yrs 8 mo 25 d2.111.760.35--
037833BD12 yrs 8 mo 18 d1.81.460.34--
037833CS72 yrs 8 mo 23 d1.721.460.26--
037833AX82 yrs 5 mo 20 d1.71.310.39--
037833CK42 yrs 5 mo 20 d1.651.310.34--
037833AP51 yr 8 mo 18 d1.61.310.29--
037833CB41 yr 11 mo 15 d1.481.310.18--
037833BQ21 yr 6 mo 4 d1.481.310.17--
037833AQ31 yr 8 mo 18 d1.471.310.17-2Aa1AA+
037833CA61 yr 11 mo 15 d1.411.310.11--
037833CL22 yrs 5 mo 20 d1.411.310.1--
037833AW02 yrs 5 mo 20 d1.41.310.09--
037833BR01 yr 6 mo 4 d1.341.310.03--

6.2 Key Statistics

MaturityYield to maturity %Yrs to Maturity% Rise/Fall 3-mo
Feb to May 20180.97 to 1.340.52 to 0.71-0.06
Feb to Aug 20191.31 to 1.61.48 to 1.96-0.11
Feb to May 20201.4 to 1.82.47 to 2.73-
Feb to Aug 20211.54 to 1.963.52 to 3.97-0.18
Feb to May 20221.51 to 2.124.48 to 4.74-
Feb to May 20232.32 to 2.375.52 to 5.710.26
Feb to May 20242.43 to 2.66.48 to 6.731.35
Feb to May 20252.72 to 2.817.48 to 7.74-
Feb to Aug 20262.85 to 2.938.52 to 8.97-
Feb to May 20272.98 to 39.48 to 9.73-
Feb 20363.4818.52-

6.3 Yield Curve - Apple Bond vs US Treasury

Years to MaturityApple Bond Yield (%)Treasury Yield (%)Spread to Treasury(Basis Points)
21.71.3139
31.81.4733
52.121.7636
72.722.0270
102.982.278
303.862.79107

The yield curve is upward sloping which is typical. The term premium between the yield of a 30-year Apple Inc. bond of 3.86% and the yield of a 2 year bond of 1.7% is 2.16%. Further, the yield curve is steepening from a term premium of 2.12% a month ago to a current level of 2.16%. This indicates investor expectations of rising inflation and/or increasing demand for longer-term bonds. In comparison, the term premium of Treasury is 1.48%, down from 1.49% a month ago.

SECTION 7

APPLE PROFILE

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

* 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 5,213,840,000 issued shares the market capitalisation is $US821.2 billion.

SECTION 8

REPORTED BUYING AND SELLING

8.1 Insider Selling

August 17: Apple insider sells

Apple (NASDAQ:AAPL) insider Kondo Chris sold 6,209 shares worth $US1,005,610 on August 16. The selling price was $US161.96.

August 09: Apple insider sells

Apple (NASDAQ:AAPL) insider Bruce Sewell sold 31,625 shares worth $US5,000,957 on August 07. The selling price was $US158.13. The shares hit a five-day high on the day.

August 09: Apple director sells

Apple (NASDAQ:AAPL) director Arthur D. Levinson sold 35,000 shares worth $US5,515,300 on August 07. The selling price was $US157.58. The shares hit a five-day high on the day.

August 09: Apple insider sells

Apple (NASDAQ:AAPL) insider Craig Federighi sold 63,163 shares worth $US9,984,175 on August 07. The selling price was $US158.07. The shares hit a five-day high on the day.

July 10: Apple insider sells

Apple (NASDAQ:AAPL) insider Dan Riccio sold 11,949 shares worth $US1,707,034 on July 06. The selling price was $US142.86. The shares hit a seven-day low on the day.

8.2 Institutional Buying and Selling Quarter Ended June 30

Total reported Institutional buying = 65,860,800 shares

Total reported Institutional selling = 118,018,392 shares

Net reported institutional selling = 52,157,592 shares

8.3 Reported Holdings of Institutions as at Jun 30, 2017

Total = 3,102,444,366 shares

Market Value = $US445.1 billion

SECTION 9

APPLE PATENTS

Issued August 16, 2017

SYSTEM AND METHOD FOR REMOTELY INITIATING LOST MODE ON A COMPUTING DEVICE [EP3206155 (A1)]

Display screen or portion thereof with graphical user interface [D794,671]

Table mechanisms and structures [9,730,516]

Method of manufacturing touch sensors [9,733,331]

Computer display or cover glass/cell attachment to frame [9,733,670]

Radial menus [9,733,796]

Systems and methods for navigating a scene using deterministic movement of an electronic device [9,733,730]

Proxy gesture recognizer [9,733,716]

Case for electronic device having magnetic elements for connection with external magnetic elements [9,733,669]

Device, method, and graphical user interface with content display modes and display rotation heuristics [9,733,812]

Speech recognition wake-up of a handheld portable electronic device [9,734,830]

Displays with high impedance gate driver circuitry [9,734,783]

Organic light emitting diode displays with reduced leakage current [9,734,756]

Long term object tracker [9,734,587]

Finger biometric sensor including capacitance change sensing pressure sensing circuit and related methods [9,734,380]

Methods for restricting resources used by an application based on a base profile and an application specific profile [9,734,327]

Determining domain salience ranking from ambiguous words in natural speech [9,734,193]

Universal connector [9,734,108]

Voice control to diagnose inadvertent activation of accessibility features [9,733,821]

Cloud messaging between an accessory device and a companion device [9,736,290]

Light source window paint [9,736,283]

Accessory and mobile computing device communication using an application communication protocol [9,736,281]

Rapid data acquisition over the internet [9,736,266]

Using groups of user accounts to deliver content to electronic devices using local caching servers [9,736,262]

Electromagnetic alignment of inductive coils [9,735,629]

Single piece case with a battery and a hinge [9,735,595]

VCSEL structure with embedded heat sink [9,735,539]

Cableless battery integration [9,735,528]

Display screen or portion thereof with animated graphical user interface [D794,651]

Method for preventing overheating of internal components of a mobile terminal [9,736,792]

Tamper prevention for electronic subscriber identity module (eSIM) type parameters [9,736,678]

Location support for emergency calls [9,736,633]

Microphone-based orientation sensors and related techniques [9,736,578]

Generation of patterned radiation [9,736,459]

Capacative auto focus position detection [9,736,345]

Techniques for advanced chroma processing [9,736,335]

To view more details on these Patents, click here

SECTION 10

STOCK BUZZ

10.1 Latest Buzz

News DateHeadlinePublisher
Aug 17, 2017Apple Inc (AAPL) Approaches New Downside Target of $158.84mysmartrend.com
Aug 17, 2017Apple Inc. (AAPL) Stake Raised by Tyers Asset Management LLCtechkenyot.com
Aug 17, 2017Lyons Wealth Management Cut Apple (AAPL) Holding; Blackrock the Bibey Post
Aug 17, 2017Apple Inc. (AAPL) from a Bullish Perspectivewww.smarteranalyst.com
Aug 16, 2017KGI Securities analyst: Apple Watch unlikely to support calls at launchMSN
Aug 16, 2017Apple Sets Rec rd With C$2.5 Billi n Maple B nd Market Issuenewscame.com
Aug 15, 2017Sacconaghi: Google Is Paying Apple $3 Billion A Year To Benzinga
Aug 15, 2017Apple In Secret Talks With Aetna To Boost Watch Sales [REPORT]ValueWalk
Aug 15, 2017Apple s (AAPL) Buy Rating Reaffirmed at Needham & Company LLCthemarketsdaily.com
Aug 14, 2017Apple Inc. (AAPL) Sees Large Growth in Short InterestBreeze
Aug 14, 2017Apple Inc. CEO Tim Cook Talks Market Share GainsNWI
Aug 14, 2017Apple: Bearish Conclusions Of The Deep AnalysisSeeking Alpha
Aug 14, 2017Apple s Self-Driving Car: Nothing To See Here Apple Inc. (NASDAQ:AAPL)WORLD NEWS & TIPS
Aug 14, 2017Google to pay Apple $3 Billionfinancialbuzz.com
Aug 14, 2017Apple Inc. (NASDAQ:AAPL) Accidentally Leaked New Designlivetradingnews.com
Aug 14, 2017Apple Inc. (AAPL) Receives Hold Rating from Stifel Nicolauswisdomsave.com

10.2 Analyst Recommendation: Past Fortnight

DateBrokerageActionCurrent Rating
Aug 04, 2017KeyCorpReiteratesEqual Weight

10.3 Conference Call Transcripts

To view Conference Call-transcripts, click here

10.4 Litigation

August 08: U.S. International Trade Commission to Pursue Investigation of Apple

SAN DIEGO, Aug. 8, 2017 /PRNewswire/ -- Qualcomm Incorporated (Nasdaq:QCOM) today announced that the United States International Trade Commission (ITC) has commenced an investigation into Apple Inc. The investigation is based on a complaint filed by Qualcomm on July 7, 2017.

The investigation will examine whether Apple has engaged in unfair trade practices by importing and selling certain mobile electronic devices, including iPhones and iPads that infringe one or more claims of six Qualcomm patents. Qualcomm is requesting that the ITC issue a Limited Exclusion Order to bar importation, and a Cease and Desist Order to bar further sales and marketing in the United States, of iPhones and iPads that use cellular baseband processors other than those supplied by Qualcomm's affiliates.

"Qualcomm is pleased with the ITC's decision to investigate Apple's unfair trade practices and the unauthorized importation of products using Qualcomm's patents," said Don Rosenberg, executive vice president and general counsel of Qualcomm. "We look forward to the ITC's expeditious investigation of Apple's ongoing infringement of our intellectual property and the accelerated relief that the Commission can provide."

Source: Nasdaq Stock Exchange

10.5 Corporate Wire

To view Recent Company Headlines, click here

August 15: Earnings Review and Free Research Report: Post Earnings Coverage as Apple's Q3 EPS Surged 17% Y-o-Y; Outperformed Projections

Research Desk Line-up: Eastman Kodak Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 15, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Apple Inc. (NASDAQ:AAPL), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AAPL, following the Company's announcement of its financial results on August 01, 2017, for the third quarter fiscal 2017 (Q3 FY17).

August 11: Pre-Market Technical Recap on Electronic Equipment Stocks -- Apple, Fabrinet, Philips, and Sony

NEW YORK, August 11, 2017 /PRNewswire/ --

If you want a Stock Review on AAPL, FN, PHG, or SNE then come over to http://dailystocktracker.com/register/ and sign up for your free customized report today. For today, DailyStockTracker.com draws investors' attention to Apple Inc. (NASDAQ:AAPL), Fabrinet (NYSE:FN), Koninklijke Philips N.V.

August 04: Financialinsiders.com Earnings Recap Week Ending August 4th, 2017

NEW YORK, August 4, 2017 /PRNewswire/ --

The U.S. equity market closed mixed on Thursday after the Wall Street Journal reported that Special Counsel Robert Mueller impaneled a grand jury in the Russia probe. The S&P 500 Index fell 0.22 percent, or 5.41 points, to 2,472.16 while the NASDAQ Composite lost 0.35 percent to 6340.34.

August 03: Apple announces dividend

Apple today announced a quarterly dividend of 63.0c per share. The ex dividend date is Thursday, August 10, 2017 and the record date is Monday, August 14, 2017 and it is payable on Thursday, August 17.

Contact: +1 408 996-1010

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

State/Province/Country: United States

Country of Incorporation: United States

Industry [NAICS]: 334220

Exchange: NASDAQ

ISIN: US0378331005

O:AAPL; AAPL.O

PermID: 4295905573

CIK: 320193

CUSIP: 037833100

Apple Inc, Apple, Inc

Source: www.BuySellSignals.com