Apple, Inc. (NASDAQ:AAPL)

CAPS Rating: 4 out of 5

From iPods to iPhones to MacBooks, Apple uses its “think different” approach to reframe computing, communication, and more.

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Member Avatar demliars (< 20) Submitted: 7/29/2014 11:06:38 AM : Outperform Start Price: $98.57 AAPL Score: +0.17

Because there's a sense from a number of demographics, especially the internet generations, EVERYTHING they do is cool.

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Member Avatar KAM12588 (< 20) Submitted: 7/29/2014 2:10:30 AM : Outperform Start Price: $98.85 AAPL Score: -0.02

do to the development of the iWatch and the capabilities of the sapphire screen and eco battery

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Member Avatar notyouagain (58.69) Submitted: 7/26/2014 8:01:50 PM : Outperform Start Price: $97.67 AAPL Score: +1.60

All right, it's Apple, and that's enough for a lot of the drooling Apple fanboys. I know.

Here's the reason for the attitude. I just don't get it. Otherwise intelligent people lose all objectivity and just fall for the story.

Don't get me wrong. Apple has built a competitive advantage that will sustain it with innovative products and marketing, and its brand is associated with ingenuity and coming up with things people want before they knew they wanted them.

It's just that hoarding a huge amount of cash that sits there on the balance sheet generating no return at all for all these years strikes me as very un-shareholder-friendly.

Other than their huge cash hoard, which they weren't sharing with their shareholders, I often could find nothing spectacular about them as an investment. Innovative products and marketing, yes.

Investment, no.

In 2011, Chevron had a 22% payout ratio and a dividend yield of 3%.

Apple wasn't yet paying a dividend at the time, but if it had, and had a 22% payout ratio, its yield would have been only 1.6%.

Microsoft had a payout ratio of 23% at the time, and a dividend yield of 3%.
If Apple had paid out 23% of its earnings at the time, its dividend yield would have been only1.68%.

As a dividend investor, this was a thought experiment I used to compare lots of companies to Apple. I'm still not sure that a 2.1% dividend yield that takes 29% of earnings is something to get excited about.

However, at least they are paying a dividend now, they do have lots of money, and like just about all companies in the early days of being a dividend payer, maybe we'll see some exceptional dividend growth from them in the years ahead.

So I decided to quit hating on Apple. Besides, with their teaming up with another giant, IBM, so Apple can help IBM and IBM can help Apple, that's bound to be an impressive combination. Quite a pair, that.

Apple's PE at its current price of $97.67, still the same as my beginning start price, is 16.39, with a forward PE of 13.89.

Their interest coverage is 168.6, meaning they earn $168.60 for each dollar they pay in interest expense.

As of the most recent quarter, they have $41.4B in cash and $16.96B in debt.

I never said they had a problem paying their bills, did I?

Their current ratio is 1.63.

Apple's gross margin is 36.5% - for every $100 in revenue, they make $36.50 in profits. If you've read many of my other pitches, you know Apple's gross margin is nothing to crow about compared to many other companies.

Anyway, for the trailing twelve months they made a gross profit of $64.3B against revenue of $176.04B, which is a gross margin of 36.5%.

Return on equity is 29.5%.

They do have a PEG ratio of only 1.26, which mighty good for a large company. IBM, their new BFF, has a PEG of 1.23.

Apple pays an annual dividend of $1.88/share, giving it a 2.1% dividend yield that takes 29% of its earnings.

It hasn't been paying a dividend long enough to establish a dividend growth rate, but I would expect any company's first years of dividend growth to be well above average. Especially a company trying to live up to all that hype.

That's it. So come on, Apple....see if you can make me a fan.

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Member Avatar geojpowe4ll404 (< 20) Submitted: 7/25/2014 8:13:12 PM : Outperform Start Price: $97.82 AAPL Score: +0.98

TEAMING UP WITH IBM WILL PROVE BENEFICIAL.

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Member Avatar LLukman (28.32) Submitted: 7/24/2014 9:51:03 PM : Outperform Start Price: $96.85 AAPL Score: +2.16

Iphone 6 coming, iwatch coming... $$$

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Member Avatar TMFCouchSurfer (40.51) Submitted: 7/24/2014 3:36:13 PM : Outperform Start Price: $97.00 AAPL Score: +2.33

The best

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Member Avatar stu2fly (< 20) Submitted: 7/23/2014 9:52:15 PM : Outperform Start Price: $97.04 AAPL Score: +2.33

Been in this for a long time. Largest % of my portfolio. Just keeps making money.

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Member Avatar TVEXEC16 (< 20) Submitted: 7/23/2014 5:51:07 PM : Outperform Start Price: $97.04 AAPL Score: +2.33

Apple has been an innovator in the world of Communication and I imagine it will continue to be. Steve Jobs visions are still being carried forward today long after he is gone!!!!!!!!

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Member Avatar LizanneStene (< 20) Submitted: 7/23/2014 9:32:03 AM : Outperform Start Price: $95.27 AAPL Score: +4.01

IMO,Tim Cook has a lot more up his sleeves than people think. Steve Jobs was awesome and he picked the right guy to take Apple forward. Steve wasn't always right, even admittedly laser-focused, blinded by emotions at time. Tim is a businessman that is much more open to the possibilities.

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Member Avatar Elkhorn (52.43) Submitted: 7/19/2014 8:16:45 PM : Outperform Start Price: $94.99 AAPL Score: +3.64

Iwatch

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Member Avatar larrynelson19 (33.26) Submitted: 7/19/2014 5:25:08 PM : Outperform Start Price: $94.99 AAPL Score: +3.64

Global brand recognition and loyalty are huge with Apple, and the new management (Auburn University) seems to be doing just fine. Apple's reputation for hardware, software, and systems quality is a world leader. As with their product sales volume and widespread market share, their recent 7-for-1 split demonstrates their financial acumen in getting more people buying their stock. More shareholders, more people interested in long-term/ultimate success. And again, if it's good enough for Berkshire Hathaway, it's good enough for me. ....

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Member Avatar nrynn (52.05) Submitted: 7/17/2014 5:04:14 PM : Outperform Start Price: $93.62 AAPL Score: +4.78

Apple fan base is pretty strong. I used to be a Windows guy but has moved into Mac for the past 2 years and cannot imagine going back. Am not even interested! Super deep pockets allow them to buy prospectives or competitors. The current market pull back is a great opportunity to collect this cash rich business. I am not sure how this company will shape up in 2 to 4 yrs - I will need to see evidence of innovation in iphone6 or upcoming product releases.

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Member Avatar MightyMinnow (25.72) Submitted: 7/17/2014 2:30:11 PM : Outperform Start Price: $93.51 AAPL Score: +5.11

buy the dip

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Member Avatar bogcrawler (88.50) Submitted: 7/17/2014 11:00:26 AM : Outperform Start Price: $94.60 AAPL Score: +4.38

new products and new relationship with IBM

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Member Avatar Dima009x (< 20) Submitted: 7/17/2014 9:40:51 AM : Outperform Start Price: $95.04 AAPL Score: +3.86

Upcoming new products Iphone 6 and Iwatch will initiate sizable upgrade cycle from hardcore Apple fans and will also attract a new wave of users ready to enjoy the ease of use and connectivity of the new devices coupled with brand new operating systems.

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Member Avatar cheesestring (< 20) Submitted: 7/16/2014 1:47:04 PM : Outperform Start Price: $95.97 AAPL Score: +3.05

Until this juggernaut stumbles, there is no reason not to ride the bandwagon to prosperity.

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Member Avatar dtgusa (57.29) Submitted: 7/16/2014 1:18:18 PM : Outperform Start Price: $96.24 AAPL Score: +2.73

1) Despite a recent legal setback and issues in China AAPL remains focused on the future, e.g. recently announced project with IBM.
2) Persistent reports of new products in new areas, e.g. home entertainment and wearable tech.
3) The have a moat, all be it small. Yet if this new venture with IBM is effective the probability is the moat will increase.
4) The S&P 500 is up 19.75% for YTD while AAPL is up 56.1% for the same period based on MorningStar's tracking.
5) Already am a stake holder and unless something changes and my original thesis remains sound I have no plans to sell anytime soon. To the contrary, if I can catch a dip I'll increase my holdings.

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Member Avatar Smartman (< 20) Submitted: 7/15/2014 5:06:42 PM : Outperform Start Price: $95.25 AAPL Score: +3.76

Single pick, not entire group, great stock-product-buy back-dividend

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Member Avatar trizoll (56.03) Submitted: 7/12/2014 10:25:32 PM : Outperform Start Price: $95.86 AAPL Score: +2.96

Refresh of products and new products

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Member Avatar SunflowerMind (45.26) Submitted: 7/12/2014 5:47:14 PM : Outperform Start Price: $95.86 AAPL Score: +2.96

Highest quality products, highest margins, highest cash on hand. Products similar to Heroine. Once you go Apple you don't go to the other guys.

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