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Apple (AAPL)

Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Five companies in the U.S. information technology industry, along with Amazon, Google, Microsoft, and Facebook. Its hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds, the AirPods Max headphones, and the HomePod smart speaker line. Apple's software includes iOS, iPadOS, macOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam music identifier, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro X, Logic Pro, and Xcode. Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Arcade, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple I and Apple II, grew quickly.

Company profile

Ticker
AAPL
Exchange
Website
CEO
Timothy Cook
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
APPLE COMPUTER INC, APPLE COMPUTER INC/ FA, APPLE INC
SEC CIK
Subsidiaries
Apple Asia Limited • Apple Asia LLC • Apple Canada Inc. • Apple Computer Trading (Shanghai) Co., Ltd. • Apple Distribution International Limited • Apple Insurance Company, Inc. • Apple Japan, Inc. • Apple Korea Limited • Apple Operations Europe Limited • Apple Operations International Limited ...
IRS number
942404110

AAPL stock data

Calendar

28 Jul 22
12 Aug 22
24 Sep 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Sep 21 Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 28.86B 28.86B 28.86B 28.86B 28.86B 28.86B
Cash burn (monthly) 106.33M 534.58M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 169.87M 854.02M n/a n/a n/a n/a
Cash remaining 28.69B 28.01B n/a n/a n/a n/a
Runway (months of cash) 269.8 52.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

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Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Aug 22 O'brien Deirdre Common Stock Sell Dispose S No Yes 164.86 15,366 2.53M 136,290
5 Aug 22 O'brien Deirdre Common Stock Payment of exercise Dispose F No No 165.35 16,530 2.73M 151,656
5 Aug 22 O'brien Deirdre Common Stock Option exercise Acquire M No No 0 31,896 0 168,186
5 Aug 22 O'brien Deirdre RSU Common Stock Option exercise Dispose M No No 0 31,896 0 31,896
3 Aug 22 Katherine L. Adams Common Stock Sell Dispose S No Yes 166.28 5,700 947.8K 427,334
3 Aug 22 Katherine L. Adams Common Stock Sell Dispose S No Yes 165.91 5,568 923.79K 433,034
3 Aug 22 Katherine L. Adams Common Stock Sell Dispose S No Yes 164.69 5,031 828.56K 438,602
3 Aug 22 Katherine L. Adams Common Stock Sell Dispose S No Yes 163.69 5,073 830.4K 443,633
3 Aug 22 Katherine L. Adams Common Stock Sell Dispose S No Yes 162.43 2,928 475.6K 448,706
3 Aug 22 Katherine L. Adams Common Stock Sell Dispose S No Yes 161.46 700 113.02K 451,634
57.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 4221 4249 -0.7%
Opened positions 143 646 -77.9%
Closed positions 171 141 +21.3%
Increased positions 1604 1464 +9.6%
Reduced positions 2197 1898 +15.8%
13F shares Current Prev Q Change
Total value 1.63T 1.68T -3.3%
Total shares 9.3B 9.48B -1.9%
Total puts 193.79M 246.1M -21.3%
Total calls 159.31M 173.6M -8.2%
Total put/call ratio 1.2 1.4 -14.2%
Largest owners Shares Value Change
Vanguard 1.27B $221.75B +0.7%
BLK Blackrock 1.03B $179.43B +0.8%
BRK.A Berkshire Hathaway 890.92M $155.56B +0.4%
STT State Street 613.85M $107.18B -3.0%
FMR 351.58M $61.39B -0.2%
Geode Capital Management 272.08M $47.39B +2.9%
TROW T. Rowe Price 233.08M $40.7B +4.5%
NTRS Northern Trust 186.03M $32.48B -2.5%
BAC Bank Of America 144.4M $25.21B +11.0%
BK Bank Of New York Mellon 141.39M $24.69B -2.3%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -142.08M EXIT
Aaron Wealth Advisors 26.08M +25.99M +30391.8%
STT State Street 613.85M -19.26M -3.0%
BAC Bank Of America 144.4M +14.36M +11.0%
BCS Barclays 26.62M -11M -29.2%
RY Royal Bank Of Canada 59.75M -10.46M -14.9%
TROW T. Rowe Price 233.08M +9.93M +4.5%
Jane Street 6.66M -9.6M -59.0%
Capital Research Global Investors 38.9M +9.35M +31.7%
Vanguard 1.27B +8.73M +0.7%

Financial report summary

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Risks
  • The Company’s business, results of operations and financial condition, as well as the price of the Company’s stock, have been adversely affected and could in the future be materially adversely affected by the COVID-19 pandemic.
  • The Company’s operations and performance depend significantly on global and regional economic conditions and adverse economic conditions can materially adversely affect the Company’s business, results of operations and financial condition.
  • The Company’s business can be impacted by political events, trade and other international disputes, war, terrorism, natural disasters, public health issues, industrial accidents and other business interruptions.
  • Global markets for the Company’s products and services are highly competitive and subject to rapid technological change, and the Company may be unable to compete effectively in these markets.
  • To remain competitive and stimulate customer demand, the Company must successfully manage frequent introductions and transitions of products and services.
  • The Company depends on component and product manufacturing and logistical services provided by outsourcing partners, many of which are located outside of the U.S.
  • Future operating results depend upon the Company’s ability to obtain components in sufficient quantities on commercially reasonable terms.
  • The Company’s products and services may be affected from time to time by design and manufacturing defects that could materially adversely affect the Company’s business and result in harm to the Company’s reputation.
  • The Company is exposed to the risk of write-downs on the value of its inventory and other assets, in addition to purchase commitment cancellation risk.
  • The Company relies on access to third-party intellectual property, which may not be available to the Company on commercially reasonable terms or at all.
  • The Company’s future performance depends in part on support from third-party software developers.
  • Failure to obtain or create digital content that appeals to the Company’s customers, or to make such content available on commercially reasonable terms, could have a material adverse impact on the Company’s business, results of operations and financial condition.
  • The Company’s success depends largely on the continued service and availability of highly skilled employees, including key personnel.
  • The Company depends on the performance of carriers, wholesalers, retailers and other resellers.
  • The Company’s business and reputation are impacted by information technology system failures and network disruptions.
  • Losses or unauthorized access to or releases of confidential information, including personal information, could subject the Company to significant reputational, financial, legal and operational consequences.
  • Investment in new business strategies and acquisitions could disrupt the Company’s ongoing business, present risks not originally contemplated and adversely affect the Company’s business, reputation, results of operations and financial condition.
  • The Company’s retail stores have required and will continue to require a substantial investment and commitment of resources and are subject to numerous risks and uncertainties.
  • The Company’s business, results of operations and financial condition could be adversely impacted by unfavorable results of legal proceedings or government investigations.
  • The Company is subject to complex and changing laws and regulations worldwide, which exposes the Company to potential liabilities, increased costs and other adverse effects on the Company’s business.
  • The Company’s business is subject to a variety of U.S. and international laws, rules, policies and other obligations regarding data protection.
  • The Company expects its quarterly net sales and results of operations to fluctuate.
  • The Company’s financial performance is subject to risks associated with changes in the value of the U.S. dollar relative to local currencies.
  • The Company is exposed to credit risk and fluctuations in the values of its investment portfolio.
  • The Company is exposed to credit risk on its trade accounts receivable, vendor non-trade receivables and prepayments related to long-term supply agreements, and this risk is heightened during periods when economic conditions worsen.
  • The Company is subject to changes in tax rates, the adoption of new U.S. or international tax legislation and exposure to additional tax liabilities.
  • The price of the Company’s stock is subject to volatility.
Management Discussion
  • Total net sales increased 33% or $91.3 billion during 2021 compared to 2020, driven by growth in all Products and Services categories. Year-over-year net sales during 2021 also grew in each of the Company’s reportable segments.
  • In April 2021, the Company announced an increase to its current share repurchase program authorization from $225 billion to $315 billion and raised its quarterly dividend from $0.205 to $0.22 per share beginning in May 2021. During 2021, the Company repurchased $85.5 billion of its common stock and paid dividends and dividend equivalents of $14.5 billion.
  • Apple Inc. | 2021 Form 10-K | 20

Content analysis

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Legalese
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Readability
H.S. sophomore Avg
New words: intangible, Ventura
Removed: average, capacity, Chinese, consumer, continuing, December, depend, duration, economy, extent, health, imposition, iPod, Japanese, local, movement, operational, protective, public, released, remaining, remotely, reopening, retail, retired, safely, temporarily, touch, trajectory, variable, work, working