Apple Inc (AAPL)

AAPL (NASDAQ:Consumer Durables) EQUITY
$94.02
pos +0.00
+0.00%
Today's Range: 93.69 - 96.92 | AAPL Avg Daily Volume: 48,674,000
Last Update: 02/05/16 - 4:00 PM EST
Volume: 0
YTD Performance: -10.68%
Open: $0.00
Previous Close: $96.60
52 Week Range: $92.00 - $134.54
Oustanding Shares: 5,544,583,000
Market Cap: 535,606,717,800
6-Month Chart
TheStreet Ratings Grade for AAPL
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 23 20 19 19
Moderate Buy 3 3 3 3
Hold 6 9 9 9
Moderate Sell 0 0 0 0
Strong Sell 0 0 0 0
Mean Rec. 1.47 1.66 1.68 1.68
Latest Dividend: 0.52
Latest Dividend Yield: 2.15%
Dividend Ex-Date: 02/04/16
Price Earnings Ratio: 10.23
Price Earnings Comparisons:
AAPL Sector Avg. S&P 500
10.23 10.50 30.32
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
-22.25% -21.61% 43.75%
GROWTH 12 Mo 3 Yr CAGR
Revenue 27.90 0.49 0.14
Net Income 35.10 0.28 0.08
EPS 42.80 0.45 0.13
Earnings for AAPL:
EBITDA 82.49B
Revenue 233.72B
Average Earnings Estimates
Qtr (03/16) Qtr (06/16) FY (09/16) FY (09/17)
Average Estimate $2.01 $1.74 $9.13 $9.96
Number of Analysts 16 14 19 16
High Estimate $2.40 $2.04 $10.02 $11.00
Low Estimate $1.89 $1.56 $8.42 $8.41
Prior Year $2.33 $1.85 $9.22 $9.13
Growth Rate (Year over Year) -13.89% -5.83% -0.97% 9.11%
Chart Benchmark Timeframe
Average Frequency Indicator Chart
Scale Symbol Comparison Bollinger Bands
These companies, and a number of others, are clearly showing that the Fed is way off base on the U.S. economy.
Seventeen reasons why NFLX doesn't deserve a $51 billion market cap.
Earnings from Apple and other big caps could set the market's tone.
Revenue growth was 23%, but that's not stunning given the company's market cap. One of the main issues going forward is whether NFLX can expand margins even with overseas growth. Subscribers pay with local currencies, but Netflix's largely dollar-based content costs are increasing. International subscribers were stronger and Netflix's overseas-penetration rate is still low (in the mid-single digits, but probably going to about 10% in the next three or four years). But we don't know how much marketing money the company will have to spend in its new non-U.S. markets. Domestic subscriptions are now at about 45 million, but that missed analyst expectations. Guidance on subscription growth was also weak for the next quarter, lowered by 20%. The company is attracting competition, and it releases little in terms of viewership numbers vs. subscriber numbers. Netflix has been consumer friendly from a pricing standpoint, underpricing its product to date. But price increases planned for May and October could result in a tick-up in domestic churn, while the company is inching ever closer to a saturation point. If margins don't increase, then NFLX's growth approximates revenue growth. But the company faces huge investments and higher content costs this coming year. Fourth-quarter EBITD declined slightly (by $2 million). That means $339 million of incremental revenues produced a minus $2 million in incremental EBITD. Ergo, there was operating leverage. This has happened for five quarters in a row. Interest costs quadrupled to $29 million from a previous $7 million. This reflects NFLX's cash burn. Cash-flow coverage of interest is only a little over 3x, so I'm surprised Netflix hasn't done a huge
Did I mention that the market has no memory from day to day? I took today's late afternoon schmeissing as a panic low and adjusted my long exposure in my portfolio appropriately and opportunistically. All the ingredients I look for coalesced this morning and early afternoon -- shock, panic, fear and immobility on the part of many investors. But this statement is very subjective and must be taken with a grain of salt! As I noted, it's not time to be fearful when others are fearful and the S&P Index had dropped from 211+ to 182. At 182 the S&P was undervalued (according to my calculus) for the first time in more than six months. At the low today, the S&P was down by about 11% year to date, which is in line with my expectation of a low double-digit decline for 2016. My "Fair Market Value" calculation, shown recently, is 1860. We closed exactly at 1860!  That said, it won't be smooth sailing and it likely will be volatile. This European Central Bank story might have triggered some buying midday. Who knows? The U.S. dollar was stronger and that took down some of the consumer staple stocks. Bonds were stronger, though off the day's highs. The two-year U.S. note dropped by four basis points. Most other maturities fell by a similar amount in yield. Municipals were firm as well. Closed-end municipal bond funds were a noted casualty today despite a better municipal market. Are they a source of funds, as they have held up well? High yield was down on the day, but iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was about $1 off of its low and closed down a half a buck after being down $1.50-plus. Blackstone/GSO Strategic Credit Fund (BGB) closed down 14 cents but still off the lows of the day. I added, as non-energy junk bonds are being priced for a relatively deep recession. Crude oil fell by nearly $2 a barrel. Natural gas was a nickel higher. Gold rose by $12 an ounce. I have sold my SPDR Gold Shares (GLD). Silver was a few pennies to the good. Wheat fell by two cents, corn rose by two cents and soybeans declined by a dime. Lumber was schmeissed, with a nearly $9 loss, or 4% Oil stocks were standouts to the negative side; my shorts Exxon Mobil (XOM) and Schlumberger (SLB) were the world's fair with losses in the 3% range. These shorts have done famously in the last few months, and I might be overstaying my energy shorts, but I did take them down. Banks were underperformers -- the target of systemic risk concerns (oil, currency and more). I believe those concerns to be misplaced and I have added today to already large long positions. Life insurance stocks got obliterated, again. I covered some Lincoln National (LNC) and MetLife (MET) at good prices. Retail stocks were standouts to the upside after recent weakness. Macy's (M) breached its 50- day moving average to the upside and Best Buy (BBY) rose 2.5%. Biotech also took a turn to the upside, with a nearly 3% rise led by gains across the board. (T)FANG saw all five components decline, including a wild trading day in Netflix (NFLX). I covered Facebook (FB) for a nice profit at $91.30; it closed $3 a share higher than my cover. NOSH was mixed, with Nike (NKE) strongest of the acronym. CRABBY's six components were lower, but the percentage changes were not large. Twitter (TWTR) was the subject of takeover rumors and traded above $19, closing at around $17.40 for a 4% gain. Potash (POT) managed a small gain but faded toward the close. Comparable Monsanto (MON) was weak. It looked to me like a selling climax at a
Bottom in shipping rates would be good for stock market.
The company has never failed to beat earnings expectations, and this Friday shoul be no exception.
I've covered a portion of the following shorts: Apple (AAPL), Caterpillar (CAT), Comcast (CMCSA), Exxon Mobil (XOM), the iShares China Large-Cap ETF (FXI), iShares MSCI France ETF (EWQ), iShares MSCI Germany ETF (EWG), iShares MSCI United Kingdom ETF (EWU), Lincoln National (LNC), MetLife (MET), Schlumberger (SLB), Starbucks (SBUX), Tesla (TSLA) and Walt Disney Co. (DIS).
I've been very consistent about my disaffection for Apple (AAPL) over the last several months despite criticism by some in the media and the constant beat of optimism from Wall Street's sell side.

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Raise your hand if you care a lick about this week's Davos World Economic Forum, where the media fawn over the Masters of the Universe taking a high-priced ski vacation.

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