Corporate Profile Project of Apple Inc.


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Corporate Profile Project

Apple Inc. is considered one of the most profitable companies in the world and is listed in Fortune 500 as well as S&P 500 companies. The company’s headquarters are located in 1 Infinite Loop Cupertino, California. The company was incorporated in 1977 in the State of California. Apple’s stocks are traded in the Nasdaq Stock market as well as the New York Stock Exchange (NYSE). The company is involved in the design, manufacture and sale of mobile communication devices, personal computers, accessories, services, software and other third-party applications and content. Some of the company’s notable products include iPad, iPhone, iOS, iCloud and a variety of other hardware and software.

The annual report used for this work was for the fiscal year ended September 30th 2017. As at that date, the company reported total assets on the balance sheet as $375, 319 million, which was an increase from $321,686 million in 2016. The total revenues reported on the company’s income statement as at September 30th 2017 was $229, 234 million, an increase from $215,639 million in 2016. The net income as reported in the income statement was $48,351 million, an increase from $45,687 million in 2016.

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Further, Apple reported on the income statement a basic earnings per share of $9.27 as at September 30th 2017. The company uses the straight-line method to calculate the depreciation of its assets over their estimated useful lives. The first-in first-out method is used by the company as its preferred inventory method. The company has only one class of stock reported in the balance sheet, which are the common shares. As at September 30th 2017, the par value of the common stock was $0.00001, 12,600,000 shares were authorized, the issued shares were 5,126,201 while the outstanding shares were 5,336,166.

The market price of Apple’s stock on 07/09/2018, as reported on Yahoo Finance, was $190.58. The 52-week range, giving the highest and lowest prices in the last 12 months, is $194.20 – 144.38 as reported on Yahoo Finance. The cash dividends declared and paid for the company’s common stock for the year ended September 30th 2017 was $2.40 per share for an amount totaling to $12, 563 million.

Apple’s annual report that was used for this work was audited by Ernst & Young LLP, which is an independent registered public accounting firm. While reading the annual report, I discovered that the company has expressly stated its indemnification agreement with its directors and executive officers, which promises that the company would indemnify them against liabilities that may be incurred because of their status in the company, including any legal proceedings. If I had $10,000, I would definitely buy the company’s shares. Such an opinion is got after checking the company’s stock chart on Yahoo Finance, which shows a generally rising trend in stock price since January 2018. I am therefore confident that if that historical trend could be a forecast for the future (the 1-year target estimate given by Yahoo Finance is $201.07), the stock price will rise and I will make good returns out of the investment.

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