Apple Inc. is a technology company headquartered in Cupertino, California. Founded in 1976 by Steve Jobs and Steve Wozniak, Apple designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. The company is known for the iPhone, Mac, iPad, Apple Watch, AirPods, Apple TV, Beats products and HomePod. Apple’s services segment includes the App Store, Apple Pay, Apple Card, Apple TV+, Apple Music and iCloud.
As of September 2023, Apple is the world’s biggest tech company by value, with a market capitalization of $2.74 trillion. It’s also the world’s largest tech company by revenue, with $394.33 billion in 2022 revenue.
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September 21, 2023: Shares of Apple traded lower Thursday despite JP Morgan reiterating its Overweight rating of the stock. According to Barrons, JP Morgan analyst Samir Chatterjee wrote in a research note Wednesday that Apple was seeing strong demand for its new iPhone 15.
September 12, 2023: Apple stock drops 1.71% as the company debuts iPhone 15 and iPhone 15 Plus.
September 1, 2023: Shares of Apple have climbed more than 8.5% since August 17, 2023, when Wedbush analyst Daniel Ives reiterated his Buy rating and $230 price target for the stock. During an interview with CNBC’s Brian Sullivan, Ives said it was a matter of “when not if” Apple buys ESPN, furthering Apple’s push into live sports content.
Apple CFO Luca Maestri said during the company’s third-quarter earnings call that the company expects Q4 year-over-year revenue to be in-line with the June quarter, albeit a decline of 2% from the same quarter in 2022. Apple posted Q3 revenues of $81.8 billion. Maestri said the company expects that “foreign exchange will continue to be a headwind.”
Apple sees iPhone and its Services segment accelerating year-over-year from the June quarter, while Mac and iPad performance is expected to decline. It expects gross margin to be between 44% and 45% for the upcoming quarter.
Historical closes compared with the close of $170.43 from 2023-09-26
| 1 week (2023-09-21) | -2.01% |
|---|---|
| 1 month (2023-08-28) | -5.42% |
| 3 months (2023-06-28) | -9.94% |
| 6 months (2023-03-28) | 8.11% |
| 1 year (2022-09-24) | N/A |
|---|---|
| 2 years (2021-09-28) | 20.10% |
| 3 years (2020-09-28) | 49.21% |
| 5 years (2018-09-28) | 211.71% |
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Valuing Apple stock is incredibly difficult, and any metric has to be viewed as part of a bigger picture of Apple's overall performance. However, analysts commonly use some key metrics to help gauge the value of a stock.
| Revenue TTM | $383.9 billion |
|---|---|
| Operating margin TTM | 29.23% |
| Gross profit TTM | $170.8 billion |
| Return on assets TTM | 20.9% |
| Return on equity TTM | 160.09% |
| Profit margin | 24.68% |
| Book value | $3.85 |
| Market Capitalization | $2.7 trillion |
TTM: trailing 12 months
Dividend payout ratio: 15.8% of net profits
Recently Apple has paid out, on average, around 15.8% of net profits as dividends. That has enabled analysts to estimate a "forward annual dividend yield" of 0.54% of the current stock value. This means that over a year, based on recent payouts (which are sadly no guarantee of future payouts), Apple shareholders could enjoy a 0.54% return on their shares, in the form of dividend payments. In Apple's case, that would currently equate to about $0.93 per share.
While Apple's payout ratio might seem low, this can signify that Apple is investing more in its future growth.
Apple's most recent dividend payout was on 17 August 2023. The latest dividend was paid out to all shareholders who bought their shares by 11 August 2023 (the "ex-dividend date").
Apple's shares were split on a 4:1 basis on 31 August 2020. So if you had owned 1 share the day before before the split, the next day you'd have owned 4 shares. This wouldn't directly have changed the overall worth of your Apple shares – just the quantity. However, indirectly, the new 75% lower share price could have impacted the market appetite for Apple shares which in turn could have impacted Apple's share price.
Over the last 12 months, Apple's shares have ranged in value from as little as $123.6425 up to $197.9627. A popular way to gauge a stock's volatility is its "beta".
Beta is a measure of a share's volatility in relation to the market. The market (NASDAQ average) beta is 1, while Apple's is 1.2749. This would suggest that Apple's shares are more volatile than the average for this exchange and represent, relatively-speaking, a higher risk (but potentially also market-beating returns).
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