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Apple(AAPL). Background Info. Designs consumer electronic devices PCs(Mac), tablets( iPad ), phones(iPhone), music players(iPod) iTunes- largest music distributor in world Sells aps for iPhone & iPad Over 200 stores in United States, 85 internationally More than 45,000 full time employees
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Background Info • Designs consumer electronic devices • PCs(Mac), tablets(iPad), phones(iPhone), music players(iPod) • iTunes- largest music distributor in world • Sells aps for iPhone & iPad • Over 200 stores in United States, 85 internationally • More than 45,000 full time employees • Founded in 1976 by Steve Jobs • New CEO- Tim Cook
Valuation • Current Price-$378.25 • 52 week range-$285.25-$422.86 Valuation Ratios
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Outlook • Steve Jobs replaceable? • Apple iOS operating system • iCloud • Global handset market • iPhone, iPad
Recommendation • Current-25 shares bought at $176.88 • Sell half of our shares(12) at $400.00 per share • Weight of Apple(7%) • FAC talked about trimming it • Consumes about 13% of portfolio currently • Very profitable- 113% return