US Nasdaq stock report - Apple


Apple inches higher, resistance at 12-day EMA October 20, 2017 16:00 EDT


Apple Inc. (NASDAQ:AAPL), NASDAQ's largest Computer integrated systems company by market cap, has increased 0.2% but fell short of the 12-day Exponential Moving Average [EMA] of $US157.03. Compared with the NASDAQ-100 Index which rose 16.2 points (0.3%) in the day, the relative price change was -0.1%. The volume was 0.9 times the average daily trading volume of 27.2 million shares. The stock last traded at $US156.25.


Apple (NASDAQ:AAPL) institutional shareholder APG Asset Management N.V. (CIK:0001434819) bought 1,544,200 shares in the quarter ended September 30, 2017 worth $US238 million at the estimated Volume Weighted Price (VWP) of USD155.73. At the end of the quarter APG Asset Management N.V. held 9,835,019 shares worth $US1.5 billion.


Apple (NASDAQ:AAPL) institutional shareholder State Treasurer State of Michigan (CIK:0000762152) sold 1,203,619 shares in the quarter ended September 30, 2017 worth $US185.5 million at the estimated Volume Weighted Price (VWP) of USD155.73. At the end of the quarter State Treasurer State of Michigan held 2,563,691 shares worth $US399.2 million. Net decrease in holdings over the last two years and nine months was 2,807,552 shares (52% of the shares held two years and nine months ago).


Apple (AAPL) has been issued 48 new patents by the USPTO and EPO.

Highlights in today's Report:


Fundamentals, Technicals, Short Selling, High Performance Indicators


Fundamentals, Technicals, Low Performance Indicator


Momentum, 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 Oct 19, 2017, Key Statistics, Yield Curve - Apple Bond vs US Treasury


Activities, Industry & Sector, Top Management, Issued Capital


Insider Selling, Institutional Buying and Selling Quarter Ended June 30, Reported Holdings of Institutions as at Jun 30, 2017



Latest Buzz, Analyst Recommendations Past Fortnight, Litigation, Corporate Wire


1.1 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 141.3%. This suggests the stock is undervalued in dividend yield terms.

+ Total Liabilities/EBITDA of 2.7 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

1.2 Technicals:

+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 157.03 minus the 26-day EMA of 156.75 is positive 0.28 suggesting a bullish signal.

+ The 5.3% discount to 12-month high of $US164.94 against the 52.0% premium to 12-month low of $US102.80 suggests the stock continues to push for new highs.

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

+ The present value of $US1,000 (PV1000) invested one year ago in Apple is $US1,382, comprising a capital gain of $US358 and dividend reinvested of $US24.

NASDAQ-100 Index1,0031,0221,264

+ The present value of USD1,000 (PV1000) invested thirty years ago in Apple is $US148,925, including a capital gain of $US132,228 and dividend reinvested of $US15,697.

+ 30 years Multiplier in USD = 148.925x

+ Compound Annual Growth Rate (CAGR) in USD = 17.9%

1.3 Short Selling:

+ The current short volume is 0.5 times its own historical average of 0.1%.

1.4 High Performance Indicators:

DescriptionValueRank In Market
Today's Turnover$US3.7 billionIn Top 1%
Revenue Per Employee$US1.9 millionIn Top 6%
Return on Assets [ROA] %14.2In Top 10%
Return on Capital Employed [ROCE] %25.3In Top Quartile
Volatility %1.1In Top Quartile


2.1 Fundamentals:

+ Tobin's Q Ratio, defined as MCap divided by Total Assets, is 2.5. 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

2.2 Technicals:

+ The price decreased 0.5% in the last week.

2.3 Low Performance Indicator:

DescriptionValueRank In Market
P/E * P/NTA119.68In Bottom Quartile


3.1 Momentum:

+ Volume: there were 23,890,900 shares worth $US3.7 billion traded today. In the past week, volume was 0.9 times average and the shares were down 0.5%.

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 37.9%.

AAPLClose (USD)Dividends (USD)Capital Gain / (Loss) %% YieldAnnual Return %
Oct 20156.252.435.82.137.9
1 Yr ago115.032.18729.0
2 Yrs ago107.51.9816.42.118.5
3 Yrs ago92.391.8137.42.740.1
4 Yrs ago67.241.63(14.6)2.1(12.5)

Close 5 years ago $US78.71

3.3 Turnover Rate & Turnover Period:

+ The turnover rate in the 12 months to date was 117.5% (or a turnover period of 10 months). This average length of ownership of the stock at 1.3 times the average holding period of 7 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 47,824 stocks] and Rank in the American Region [out of 12,760 stocks]

DescriptionValueGlobal RankIn Am Region
MCap (US$)807.1B11
Total Assets (US$)321.7B238126
Revenue (US$)215.6B166
Net Profit (US$)45.7B32
Return on Equity %35.61,178414
Net Profit Margin %21.25,4051,503
Price to Book6.728,6045,257
Yield %1.513,8013,231
PV$1000 (1Year) US$1,38210,5462,697
US$ Change (1Year) %35.510,2692,623

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 741/2189 in BSS News Bites' ranking of NASDAQ performers in the past year, a percentile ranking of 66.


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)8.319.226.45

Net profit was down 14.4% from US$53.4 billion in 2015 to US$45.7 billion in 2016. Earnings Per Share (EPS) was down 9.9% from $US9.22 to $US8.31.

5.2 Trailing 12 Months Dividends

Trailing 12 Months ToValue ($US)
20 Oct 20172.4
20 Oct 20162.18
20 Oct 20151.98
20 Oct 20141.81
20 Oct 20131.63


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 Oct 19, 2017

CUSIPTime to MaturityYld (%)Treasury (%)Spread (%)
037833CH129 yrs 3 mo 20 d3.782.80.97
037833CR99 yrs 6 mo 21 d2.932.30.63
037833AZ37 yrs 3 mo 20 d2.622.150.47
037833AS96 yrs 6 mo 16 d2.612.150.46
037833CU26 yrs 6 mo 21 d2.562.150.4
037833BU35 yrs 4 mo 3 d2.421.960.46
037833CQ14 yrs 6 mo 21 d2.291.960.33
037833BF64 yrs 6 mo 23 d2.271.960.31
037833BS83 yrs 4 mo 3 d2.031.680.34
037833BD12 yrs 6 mo 16 d1.851.680.16
037833CS72 yrs 6 mo 21 d1.821.680.14
037833AX82 yrs 3 mo 18 d1.771.550.22
037833CK42 yrs 3 mo 18 d1.731.550.18
037833CB41 yr 9 mo 13 d1.671.550.12
037833AQ31 yr 6 mo 16 d1.611.550.07

6.2 Key Statistics

MaturityYield to maturity %Yrs to Maturity% Rise/Fall 3-mo
Feb to May 20181.33 to 20.35 to 0.540.01 to 0.09
Feb to Aug 20191.36 to 1.641.31 to 1.79-0.44 to 0.35
Feb to May 20201.43 to 1.922.3 to 2.56-0.7 to -0.2
Feb to Aug 20211.61 to 2.133.35 to 3.8-0.47 to -0.25
Feb to May 20221.52 to 2.284.31 to 4.57-1.22 to -0.33
Feb to May 20232.41 to 2.435.35 to 5.54-1.39 to -0.24
Feb to May 20242.56 to 2.616.31 to 6.56-0.17 to 0.1
Feb to May 20252.64 to 2.767.31 to 7.57-1.15 to -0.05
Feb to Aug 20262.87 to 2.888.35 to 8.8-0.16 to 0.01
Feb to May 20272.97 to 2.999.31 to 9.56-0.4 to -0.24
Feb 20363.4818.35-0.79

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 30-year Apple Inc. bond of 3.78% and the yield of a 2 year bond of 1.77% is 2.01%. Further, the yield curve is flattening from a term premium of 2.02% a month ago to a current level of 2.01%. This indicates investor expectations of falling inflation and/or decreasing demand for longer-term bonds. In comparison, the term premium of Treasury is 1.3%, down from 1.35% a month ago.


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 5,165,228,000 issued shares the market capitalisation is $US807.1 billion.


8.1 Insider Selling

October 10: Apple insider sells

Apple (NASDAQ:AAPL) insider Dan Riccio sold 15,642 shares worth $US2,424,666 on October 05. The selling price was $US155.01. The shares hit a 14-day high on the day.

October 05: Apple insider sells

Apple (NASDAQ:AAPL) insider Schiller Philip W sold 56,808 shares worth $US8,788,198 on October 03. The selling price was $US154.70. The shares hit a 12-day high on the day.

October 05: Apple insider sells

Apple (NASDAQ:AAPL) insider Angela Ahrendts sold 25,000 shares worth $US3,865,500 on October 03. The selling price was $US154.62. The shares hit a 12-day high on the day.

October 05: Apple insider sells

Apple (NASDAQ:AAPL) insider Angela Ahrendts sold 13,388 shares worth $US2,074,269 on October 05. The selling price was $US154.93. The shares hit a 14-day high on the day.

October 05: Apple insider sells

Apple (NASDAQ:AAPL) insider Angela Ahrendts sold 25,000 shares worth $US3,835,250 on October 04. The selling price was $US153.41. The shares hit a five-day low on the day.

8.2 Institutional Buying and Selling Quarter Ended June 30

Total reported Institutional buying = 66,362,212 shares

Total reported Institutional selling = 118,444,800 shares

Net reported institutional selling = 52,082,588 shares

8.3 Reported Holdings of Institutions as at Jun 30, 2017

Total = 3,107,043,829 shares

Market Value = $US445.7 billion


Issued October 17, 2017

Opaque color stack for electronic device [9,790,126]

Electronic device having coupler for tapping antenna signals [9,791,490]

Batch processing for improved georeferencing [9,791,572]

Magnetic connector with optical signal path [9,791,634]

User interface for application interface manipulation [9,791,994]

Interface scanning for disabled users [9,792,013]

Portable electronic device performing similar operations for different gestures [9,792,039]

Software updating [9,792,109]

Selective composite rendering [9,792,881]

Shared antenna structures for near-field communications and non-near-field communications circuitry [9,793,616]

Portable electronic device with antenna [9,793,599]

Wireless handheld electronic device [9,793,598]

Substrate designed to provide EMI shielding [9,793,222]

Dome switch stack and method for making the same [9,793,071]

Dome switch stack and method for making the same [9,793,070]

Keyboard hinge mechanism [9,793,066]

Process, voltage, and temperature tracking SRAM retention voltage regulator [9,792,979]

Automatic generation of multi-camera media clips [9,792,955]

Case with inductive charging system to charge a portable device [9,794,673]

Using time-stamped event entries to facilitate synchronizing data streams [9,794,605]

Systems and methods for saving and restoring scenes in a multimedia system [9,794,505]

Simultaneous LTE data and DSDA voice [9,794,403]

Updating device behavior based on user behavior [9,794,402]

System and method for negotiating control of a shared audio or visual resource [9,794,134]

Adaptive channel state feedback estimation [9,794,024]

Cell measurements in unlicensed frequency bands [9,794,015]

Reuse of plug detection contacts to reduce crosstalk [9,793,658]

Methods and apparatus for paging reception in multimode wireless networks [9,794,910]

Baseband modem implementing communication protocol stack [9,794,885]

Reconfiguration of wireless devices for wireless network access [9,794,867]

Mobile device with improved network scanning [9,794,866]

Device management in a mixed wireless communication system [9,794,832]

Dynamic content presentation based on proximity and user data [9,794,746]

Facilitating access to location-specific information using wireless devices [9,794,741]

Wi-Fi process [9,794,740]

Mobile device sensor data subscribing and sharing [9,794,729]

Electronic device [D800,172]

Display screen or portion thereof with graphical user interface [D800,150]

Display screen or portion thereof with graphical user interface [D800,143]

Cover for electronic communications device or the like [D800,103]

Uplink control in a wireless communication network [9,794,938]

System and method for managing a partitioned database of user relationship data [9,792,311]

Interaction of sound, silent and mute modes in an electronic device [9,792,083]

Input device and user interface interactions [9,792,018]

Portable multifunction device, method, and graphical user interface for viewing and managing electronic calendars [9,792,001]

Electronic device with noise-cancelling force sensor [9,791,958]

Electronic devices with sidewall displays [9,791,949]

Miniature camera zoom actuator with magnet-induced friction [9,791,674]

To view more details on these Patents, click here


To view the Stock BUZZ on Apple, click here

10.1 Latest Buzz

News DateHeadlinePublisher
Oct 19, 2017Apple, Procter & Gamble Weigh on DJIA Thursday24/7 Wall ST
Oct 19, 2017Even a sour day for Apple can t spoil Dow s record streakThe Business Journal
Oct 19, 2017Thursday Apple Rumors: iPhone 8 Production to Drop By 50%Yahoo Finance
Oct 17, 2017Cramer: Why You Should Buy Apple On Weakness Every Time You CanBenzinga on
Oct 17, 2017Apple, Inc. Nearly Got Into Medical ClinicsNWI
Oct 17, 2017Better Buffett Buy: Apple Inc. vs. IBMYahoo New Zealand
Oct 17, 2017Apple Inc. (NASDAQ:AAPL) Shares Bought by Cullinan Associates
Oct 16, 2017Apple Moves To 'Face ID' For All 2018
Oct 16, 2017Analyst Upgrades Apple (NASDAQ:AAPL) Stock Gets
Oct 16, 2017Huawei Aims T Challenge Apple And Samsung n Technol g As Well As
Oct 16, 2017First Allied Advisory Services Has Lifted By $1.44 Million Its Apple (AAPL) Holding; Colonial Insured Municipal Fund (CFX) Sentiment Is 1.35the Bibey Post

10.2 Analyst Recommendations: Past Fortnight

DateBrokerageActionPast RatingCurrent RatingPrev TargetPrice Target
Oct 16, 2017Pacific CrestUpgradesSector WeightOverweight-187
Oct 16, 2017KeyCorpUpgradesSector WeightOverweight173.75187
Oct 13, 2017Barclays PLCRaises Target-Equal Weight-161
Oct 11, 2017Piper Jaffray CompaniesReiterates-Buy-196
Oct 11, 2017Morgan StanleyReiterates-Buy-199

10.3 Litigation

October 17: Corporate News Blog - Qualcomm's Fresh Lawsuit Against Apple Seeks Ban of Sale and Manufacture Of iPhones in China

LONDON, UK / / October 17, 2017 /Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for QUALCOMM Inc. (NASDAQ:QCOM), following which we have published a free report that can be viewed by signing up at The Company has reportedly filed a fresh lawsuit against Apple Inc. (NASDAQ:AAPL) in a Beijing, China's intellectual property court for patent infringement. Qualcomm is seeking the Chinese Court's help in banning the sale and manufacture of Apple's iPhones in China. The news of the latest lawsuit was reported by Bloomberg on October 13, 2017. The lawsuit was filed by Qualcomm on September 29, 2017. However, the Beijing Court has not made these filings public yet. For immediate access to our complimentary reports, including today's coverage, register for free now at: At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on QCOM and AAPL. Go directly to your stock of interest and access today's free coverage at: Source: Nasdaq Stock Exchange

October 16: Apple: VirnetX Receives Court's Final Judgment Affirming Jury's Verdict of $1.20 Per Infringing Apple Device

VirnetX(TradeMark) Holding Corporation (NYSE AMERICAN:VHC), an Internet security software and technology company, announced today that on September 29, 2017, the United States District Court for the Eastern District of Texas, Tyler Division, entered a Final Judgement and issued its Memorandum Opinion and Order ("Order") regarding post-trial motions resulting from the prior $302.4 million jury verdict ("Verdict") for VirnetX in the ongoing patent infringement action between VirnetX Inc. ("VirnetX") and Apple Inc ("Apple").

In the Order, the Court denied all of Apple's motions: motion for judgment as a matter of law of non-infringement, motion for judgment as a matter of law on damages, motion for a new trial on infringement, and motion for a new trial on damages. The Court granted all VirnetX's motions; motion for willful infringement and enhanced the royalty rate during the willfulness period by 50 percent, from $1.20 to $1.80, awarding VirnetX enhanced damages in the amount of $41,271,364.80 against Apple thereby, granting VirnetX a total sum of $343,699,314.80 in pre-interest damages. The Court also awarded costs, certain attorneys' fees, and prejudgment interest to VirnetX, and directed the parties to meet and confer regarding these amounts. On October 13, 2017, having met and conferred and having reached agreements on all amounts, parties jointly filed a motion asking the Court to grant VirnetX an additional sum in the amount of $96,028,103.58 in agreed Bill of Costs, Attorneys' Fees, and Prejudgment Interest. The Final Judgement is only subject to appeal stemming from new issues unresolved in the Apple I case, remanded back from the United States Court of Appeals for the Federal Circuit. The total Final Judgement amount including Jury Verdict, Willful Infringement, Interest, Costs and Attorney Fees is $439,727,418.

"We are elated with the Court's Final Judgement of $439 million in that not only did it affirm the jury's verdict of $1.20 per infringing iPhone, iPad and Mac Product, but also added for willful infringement, interest and attorney fees. This is the third time a jury has ruled in our favor against Apple," said Kendall Larsen, VirnetX CEO and President. "This Final Judgement amount is large because sales of Apple's infringing products are large. The cost of our security technology in infringing devices has been apportioned and is less than a quarter of one percent of the device's cost. We believe this established per device rate for security is very reasonable and will greatly assist us with our domestic and global licensing efforts."

Source: Nasdaq Stock Exchange

10.4 Corporate Wire

To view Recent Company Headlines, click here

October 19: Apple Michigan Avenue Opens Tomorrow on Chicago's Riverfront

CHICAGO---- Apple today previewed Apple Michigan Avenue, its newest and most ambitious store, creating a new connection between North Michigan Avenue, Pioneer Court and the Chicago River. Intended as a gathering place for the local community, the store will host year-round Today at Apple programming, building on Chicago's city-wide initiative to enliven the Riverwalk.

October 18: Apple & GE Partner to Bring Predix Industrial Apps to iPhone & iPad

CUPERTINO, Calif. & SAN RAMON, Calif.---- Apple and GE today announced a partnership to deliver powerful industrial apps designed to bring predictive data and analytics from Predix, GE's industrial Internet of Things (IoT) platform, to iPhone and iPad. The two companies unveiled a new Predix software development kit (SDK) for iOS, which gives developers the tools to make their own powerful industrial IoT apps.

October 16: Caldwell Cassady & Curry Win for VirnetX Affirmed in $439 Million Judgment

DALLAS, Oct. 16, 2017 -- A Texas federal judge has entered a $439.7 million patent infringement judgment against Apple Inc. (NASDAQ:AAPL) following a verdict won last year by attorneys from Dallas' Caldwell Cassady & Curry in favor of Nevada-based VirnetX Inc. (NYSE MKT:VHC), an internet security software and technology company.

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