Apple in top 3% performers of NASDAQ-100 Index in past week 11 June 2019

NEWS BITES - NORTH AMERICA

Apple Inc. (NASDAQ:AAPL), the NASDAQ's largest Computer integrated systems company by market cap, has climbed $US15.17 (or 8.4%) in the past week to close at $US194.81 on Tuesday. This makes Apple stock the fifth highest performer in the NASDAQ-100 Index of 101 stocks which was up 4.8% in the past week. This also indicates a relative price increase of 3.6%. The volume was 0.8 times average trading per week of 162,423,865 shares. There were 132,189,709 shares worth $US4.9 billion traded in the past week. In the past week the market cap has risen $US71.5 billion.

TODAY'S BUZZ

Goldman CEO says he's testing the bank's credit card with Apple and consumers are going to love it: CNBC

Foxconn Prepared to Move Apple Production Out of China if Necessary: The Wall Street Journal

Stock Summary

Day's Range$US193.60-$US196.0
52-Week Range$US140.85-$US230.78
SectorComputer Integrated Systems sector
Market Cap$US918.6 billion
Shares Outstanding4,715,280,000

Highlights in today's Report:

SECTION 1 TODAY'S AGGREGATE VOLUMES AND PRICES

SECTION 2 TODAY'S BULLISH SIGNALS

SECTION 3 TODAY'S BEARISH SIGNALS

SECTION 4 RELATED NEWS

RECAP FROM PREVIOUS REPORTS (UPDATED AT THE LAST PRICE OF $US194.81):

SECTION 5 THE PAST WEEK

SECTION 6 ONGOING BULLISH PARAMETERS

SECTION 7 ONGOING BEARISH PARAMETERS

SECTION 8 REPORTED BUYING AND SELLING

SECTION 9 SUMMARY FINANCIALS

SECTION 10 CORPORATE PROFILE

SECTION 1 TODAY'S AGGREGATE VOLUMES AND PRICES

[Volume Index or VI in brackets; 1 is average]

+ Nasdaq: AAPL.NASDAQ 24,950,209 [VI of 0.8] volume 99.9% of aggregate. Price: $US194.81.

+ Xetra: APC.ETR 23,827 [VI of 1.2] volume 0.1% of aggregate. Price: EUR168.04. Using the current exchange rate of EUR1 equals 1.1317USD, The shares are at a 2.4% discount to the close price on Nasdaq.

+ Aggregate volume: there were 25 million shares of Apple worth $US4.9 billion traded today. The aggregate volume was 0.8 times average trading of 32.5 million shares.

SECTION 2 APPLE BULLISH SIGNALS

2.1 Undervaluation [compared with sector average]:

Earnings Yield

+ Earnings yield of 6.2% is 2.9 times the 10-year bond yield of 2.15%.

Price/Earnings/Growth

+ Price/Earnings/Growth of 0.6.

+ The price earnings ratio of 16.2 divided by annual growth in EPS (FY2018 vs FY2017) of 29.6% corresponds to an attractive P/E/G of 0.6 times ; being less than the value benchmark of 1.0.

Dividend Yield

+ To quote Benjamin Graham: "A dividend yield of at least two-thirds the triple-A bond yield"; the stock's dividend yield is 0.7 times the triple-A bond yield of 2.2%.

+ The relative yield of AAPL, defined by its yield of 1.5%, divided by average yield of dividend yielding stocks in the NASDAQ-100 Index of 1.0% is 153.5%. This suggests Apple stock is undervalued in dividend yield terms.

2.2 Short Selling:

+ The current short volume equalled its own historical average of 0.1%.

2.3 Uptrend:

+ Rising open interest with rising price

+ Open Interest Trend

Same day trend: The price increased 1.2% from $US192.58 to $US194.81; Open interest has lifted 3.9% from 744,958 to 774,144. A price rise combined with an increase in open interest suggests there is new money coming into the market from existing or new buyers. This is a bullish signal.

DurationOpen Interest change %Price change %Interpretation
1-day3.91.2Strong Market
1-week4.48.4Strong Trend

+ Put Call Contracts

The Put/Call ratio has declined from 0.831 to 0.829 suggesting an uptrend.

Put ContractsCall ContractsPut/Call ratio
Today350,990423,1540.829
Previous day338,178406,7800.831

+ Put Call Ratio decreases 0.2%

Put Call Ratio1 Day1 Week1 MonthInterpretation
Change %-0.2-19.3-55.3Uptrend

+ Top three traded call options [1 contract is 100 shares]

Exercise PriceExercise DateOption PriceChange %Contracts Traded
$US185.0June 14, 2019$US9.330.51871
$US192.50June 21, 2019$US4.711.31765
$US195.0June 28, 2019$US4.431.81309

Price/Moving Average Price:

+ The price to 50-day EMAP ratio is 1.0, a bullish indicator. In the past 50 days this ratio has exceeded 1.0, 28 times suggesting further upside. The 50-day EMAP has increased to $US188.52. An increase is another bullish indicator.

+ The price to 200-day MAP ratio is 1.03, a bullish indicator. In the past 200 days this ratio has exceeded 1.03 81 times suggesting further upside. The 50-day MAP of $US194.04 is higher than the 200-day MAP of $US188.95, a bullish indicator. The 200-day MAP has increased to $US188.95. An increase is another bullish indicator.

Past Week:

+ Apple Inc. is placed 158/2484 in BuySellSignals' ranking of NASDAQ performers in the past week, a percentile ranking of 94.

+ In the past week, volume was 0.8 times average and the shares were up 8.4%. Tuesday's close price is at a 3.1% premium to its 5-day Volume Weighted Average Price (VWAP) of $US189.03.

Past Month:

+ The present value of $US1,000 (PV1000) invested one month ago in Apple is $US1,049, for a capital gain of $US49.

PV$10001-week1-month1-year
AAPL.NASDAQ1,0841,0491,050
NASDAQ-100 Index1,0481,0191,048

Rising Relative Strength (1mo, 3 mo):

+ In the NASDAQ market of 2,447 stocks and 10 units traded today, the stock has a 6-month relative strength of 73 indicating it has outperformed 73% of the market.

+ Also, the relative strength percentile is Rising at 80 for 3 months and 80 for 1 month.

2.4 High Price Performance Indicators and rank of Apple in the NASDAQ market:

DescriptionAAPL ValueRank In Market
Today's Trading Turnover$US4.9 billionIn Top 1%
MCap$US918.6 billionIn Top 1%
% Prem to Vol Wtd Price5.9In Top Quartile
Volatility %1.2In Top Quartile

SECTION 3 APPLE BEARISH SIGNALS

3.1 Overvaluation [compared with sector average]:

MCap/Total Assets

+ 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.

3.2 Overvaluation Indicator and rank of Apple in the Usnasdaq market:

DescriptionValueRank In Market
P/E * P/NTA139.26In Bottom Quartile

3.3 Downtrend:

Price/Moving Average Price and MACD:

+ The Price/MAP of 1.03 for AAPL is lower than the Price/MAP for the NASDAQ-100 Index of 1.07.

+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 186.07 minus the 26-day EMA of 187.51 is negative suggesting a bearish signal.

Overbought/Bearish Signals:

+ The stock is overbought according to the Williams % R indicator of -4.6, suggesting the price is close to its 14-day high of $US196.0.

SECTION 4 APPLE RELATED NEWS

Corporate Bonds

+ Apple 7-year bond YTM tumbles by 23.3 basis points

Apple Inc (AAPL4492956) bond price has increased $US1.64 (or 1.6%) from its last trading session of June 07, 2019 to close at $US104.28. The bond matures in 7 years and 11 months; its yield to maturity (YTM) has decreased by 23.3 basis points from 2.81% to 2.58%.

RECAP FROM PREVIOUS REPORTS (UPDATED AT THE LAST PRICE OF $US194.81):

SECTION 5 THE PAST WEEK

5.1 Snapshot: Apple stock was up $US15.17 or 8.4% in the past week. Volume in the week was 0.8 times average trading of 162.4 million shares. It outperformed the NASDAQ-100 index in 5 out of 5 days.

DayAppleClose price [USD]Price change %Relative change %Comment
MondayKeeps rising, up 11.0% in 5 days192.581.30.1
FridayAdds $US11.6 billion in MCap, top heavyweight rise in Computer integrated systems sector190.152.70.7
ThursdayKeeps rising, up 5.4% in 3 days185.221.50.7
WednesdayIn top 2% performers of NASDAQ-100 Index182.541.60.9
TuesdayRises 1.6% with rising open interest179.643.71.0Top Rise

5.2 Corporate Wires: Apple (AAPL) issued one Release in the past week.

June 06: Postmates Hires Apple's Ken Kocienda As Principal Software Engineer Focusing On Human-Machine Interaction

SAN FRANCISCO, June 6, 2019 -- Postmates, the leader in delivering anything you want on-demand, announced today that they've hired bestselling author and long-time Apple engineer, Ken Kocienda, as Principal Software Engineer. He will be joining the Postmates team and working first on Postmates X, building the new platform for the company's autonomous sidewalk rover, Serve.

Previously at Apple, Kocienda drove innovation on the software teams that created the first versions of the Safari web browser, the iPhone, the iPad, and the Apple Watch.

5.3 Stock Buzz: Past Week

News DateHeadlinePublisher
Jun 07Short-Term Options Pop as AAPL, MSFT Stocks Climb DowSchaeffers Research
Jun 07Friday Apple Rumors: iOS 13 Helps Filter Spam CallsYahoo Finance
Jun 07TCG Advisors LP Buys New Holdings in Apple Inc. (AAPL)theenterpriseleader.com
Jun 06After driverless car company wraps up pilot in DFW, Apple could step in with acquisition, report saysThe Business Journals
Jun 06Apple's Self-Driving Technology Project Might Get A Boost With Drive.ai's Acquisitionbenzinga.com
Jun 05Apple Announces CryptoKit Tools as Framework in Swift at WWDCCrowdfund Insider
Jun 05Apple Shutters Iconic iTunes As Listeners Switch To SpotifyNasdaq
Jun 05The Tinybeans share price soars as Apple s App of the Day The Motley Fool on MSN.in
Jun 05Wednesday Apple Rumors: Apple Will Start Allowing iPad Apps on MacYAHOO!
Jun 05Apple's Latest Move Could Hurt Facebook and GoogleYahoo Singapore Finance

5.4 Analyst Recommendations:Past Week

DateBrokerageActionPast RatingCurrent RatingPrice Target
Jun 06, 2019Evercore ISIInitiatesOutperformOutperform205
Jun 04, 2019JPMorgan Chase & Co.Set Price Target-Buy235
Jun 04, 2019Goldman Sachs GroupSet Price Target-Neutral171
Jun 04, 2019Credit Suisse GroupSet Price Target-Neutral209

5.5 PEOPLE'S NEWS:

June 07 Apple COO Jeff Williams' value of investment increases by $1.3 million in the past quarter

Apple (NASDAQ:AAPL) COO Jeff Williams holds 108,209 shares worth US$20 million at the last price of US$185.22, a rise in value by US$1.3 million (6.7%). Three months ago Jeff Williams held the same number of shares and the price was US$173.85.

5.6 Volatility:

+ Apple is at a discount of 15.6% to its 12-month high of $US230.78 on October 03, 2018. It is also at a premium of 38.3% to the 12-month low of $US140.85 on January 03, 2019.

SECTION 6 ONGOING BULLISH PARAMETERS

6.1 Performance:

+ Return on Assets 16.3% [15.6%].

+ Return on Capital Employed 29.3% [29.1%].

6.2 Growth:

+ Year-on-Year Earnings Growth of 29.6%.

6.3 Low Debt Indicators:

+ The debt to equity ratio of 11.2% is under a safe benchmark figure of 50%. However, it has deteriorated from 8.9% a year ago.

+ Total Liabilities/EBITDA of 3.5 is comfortably below the Joseph Piotroski benchmark of 5.

DescriptionValueRank In Market
Debt to Equity0.1In Top Quartile

6.4 High Performance Indicator and rank of Apple in the Usnasdaq market:

DescriptionValueRank In Market
Return on Assets [ROA] %16.3In Top 9%

6.5 Moving Annual Return (Past 5 years)

Based on a dynamic start date of 5 years ago, the real rate of return has averaged 22.9%. 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 5.0%.

AAPLClose (USD)Dividends (USD)Capital Gain / (Loss) %% YieldAnnual Return %
Jun 11194.812.963.41.65.0
1 Yr ago188.362.6230.41.832.2
2 Yrs ago144.52.3453.62.556.1
3 Yrs ago94.062.13(21.7)1.8(20.0)
4 Yrs ago120.191.9339.12.241.3

Close 5 years ago $US86.40

6.6 Increased VWAP

Past five years, 12 months ended Jun 11 (USD)

YearHigh PriceVWAPLow Price
2019230.78188.59140.85
2018191.29162.56137.92
2017151.94115.1987.18
2016124.01102.7285.15
2015124.95103.782.17

In the past five years Volume Weighted Average Price (VWAP) has increased by 81.9% to $US188.59. Based on a dynamic start date of five years ago, there have been declines in VWAP in 2 out of 5 years.

6.7 Increased Average Daily Turnover

Past five years, 12 months ended Jun 11 (USD billion)

YearAverage Daily Turnover
20196.1
20184.9
20173.4
20165.0
20154.9

In the past five years, average daily share turnover has increased 25.9% to $US6.1 billion. This suggests increased liquidity.

6.8 Decrease in Insider Selling

In the past 5 years a total of 6,140,130 Apple shares worth $US845.6 million were sold by insiders. Based on a dynamic start date of 5 years ago, insider selling has averaged 1,228,026 shares per year. In the past year, insiders sold 773,883 shares, a decrease of 18.4% from the previous year.

6.9 Turnover Rate & Turnover Period:

+ The turnover rate in the 12 months to date was 167.1% (or a turnover period of 7 months). The average length of ownership of the stock is 1.1 times the average holding period of 6 months for stocks in the NASDAQ-100 Index.

SECTION 7 ONGOING BEARISH PARAMETERS

7.1 Growth:

Quarterly Trend in Revenue, Net Profit and Net Profit Margin:

+ Revenue and Net Profit growth have shown signs of deterioration in recent quarters. [All figures in %]

Qtr-endedRevenue GrowthNet Profit GrowthNet Profit Margin
Mar 19 [Q2]-31.2-42.119.9
Dec 18 [Q1]3441.323.7

7.2 Declining ADVT past five years

Avg. Daily Volume Traded 12 months ended Jun 11, million shares

YearADVT
201932.5
201829.9
201729.8
201648.2
201546.5

In the past five years, Average Daily Volume of Trading (ADVT) has decreased 30.2% to 32.5 million shares.

SECTION 8 APPLE REPORTED BUYING AND SELLING

8.1 Institutional Buying and Selling Quarter Ended March 31

Total reported Institutional buying = 58,767,833 shares

Total reported Institutional selling = 106,400,384 shares

Net reported institutional selling = 47,632,551 shares

8.2 Reported Holdings of Institutions as at Mar 31, 2019

Total = 2,364,856,327 shares

Market Value = $US447.5 billion

Institutions hold 50.2% of Issued Shares.

SECTION 9 APPLE SUMMARY FINANCIALS

9.1 Dividend History

+ Trailing 12 months dividend for the 12 months ended June 11 has improved from $US1.93 in 2015 to $US2.96 in 2019; there were no declines in the past 5 years. Dividends were up 13.0% for the 12 months ended June 11 from $US2.62 in 2018 to $US2.96 in 2019.

9.2 Financials Summary

Year endedSep 2018Sep 2017Sep 2016
Sales (USD B)265.6229.2217
Pretax (USD B)72.964.161.4
Net (USD B)59.548.445.7
EPS (USD)12.019.278.31

+ Net profit was up 23.1% from US$48.4 billion in 2017 to US$59.5 billion in 2018.

+ Earnings Per Share (EPS) was up 29.6% from $US9.27 to $US12.01.

SECTION 10 CORPORATE PROFILE

10.1 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.

10.2 Top Management

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

10.3 Issued Capital and MCap

Based on 4,715,280,000 issued shares the market capitalisation is $US918.6 billion.

10.4 Vanguard Total World Stock ETF 7530:

The stock was one of 7530 global stocks selected by Vanguard Total World Stock ETF (VT) who sold 45,162 shares in the period Mar 31, 2019 to Apr 30, 2019 worth $US-9,081,365 at an estimated Volume Weighted Average Price (VWAP) of $US201.0842. As at Apr 30, 2019, the Vanguard Total World Stock ETF held 1,574,369 shares worth $US316,580,731 or 1.78% by value of the ETF's portfolio [Ranked 1 out of 7530 by value and 1 out of 677 for NASDAQ].

COMPANY IDENTIFIERS

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

Business Sector: Technology Equipment

Industry Group: Computers, Phones & Household Electronics

Industry: Computer Hardware

Activity: Computer Hardware - NEC*

Economic Sector: Technology

* NEC: Not elsewhere classified

ISIN: US0378331005

O:AAPL; AAPL.O

PermID: 4295905573

RIC: AAPL.O

CIK: 320193

CUSIP: 037833100

Apple Inc, Apple, Inc

Source: www.BuySellSignals.com