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What’s Apple Planning for Its New iPhones?

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Nov. 21 2016, Updated 8:05 a.m. ET

Price movement

Apple (AAPL) has a market cap of $603.1 billion and fell 0.04% to close at $109.95 per share on November 17, 2016. The stock’s weekly, monthly, and YTD (year-to-date) price movements were 2.0%, -5.6%, and 6.8%, respectively, on the same day.

AAPL is now trading 1.6% below its 20-day moving average, 2.1% below its 50-day moving average, and 6.8% above its 200-day moving average.

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Related ETF and peers

The Schwab US Broad Market ETF (SCHB) invests 2.5% of its holdings in Apple. The YTD price movement of SCHB was 9.2% on November 17.

The market caps of Apple’s competitors are as follows:

  • Alphabet (GOOG): $525.1 billion
  • Microsoft (MSFT): $483.3 billion
  • International Business Machines (IBM): $152.5 billion

Latest news on Apple

In a press release on November 17, 2016, CNBC reported the following: “Apple may have not two but three iPhones in its next lineup, and one will feature a 5.2-inch OLED display, according to a report from 9to5 Mac.”

The report also stated: “The report released on Thursday said Apple is planning on its new iPhone, possibly called the iPhone 8, to feature a major structure redesign with component upgrades including an OLED screen. The other two models will be successors to the 4.7-inch iPhone 7 and 5.5-inch iPhone 7 Plus with LCD displays, according to KGI Securities’ Ming-Chi Kuo, who has predicted several Apple hardware details with startling accuracy.”

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Apple’s performance in fiscal 4Q16

Apple reported fiscal 4Q16 net sales of $46.9 billion—a YoY (year-over-year) fall of 8.9% from its net sales of $51.5 billion in fiscal 4Q15. The company’s gross profit margin and operating margin narrowed 180 basis points and 310 basis points, respectively.

Its net income and EPS (earnings per share) fell to $9.0 billion and $1.67, respectively, in fiscal 4Q16, as compared to $11.1 billion and $1.96, respectively, in fiscal 4Q15.

Fiscal 2016 results

In fiscal 2016, AAPL reported net sales of $215.6 billion—a YoY fall of 7.7%. Its net income and EPS fell to $45.7 billion and $8.31, respectively, in fiscal 2016, as compared to $53.4 billion and $9.22, respectively, in fiscal 2015.

AAPL’s cash and cash equivalents and inventories fell 2.8% and 8.7%, respectively, between fiscal 2015 and fiscal 2016. Its current ratio and debt-to-equity ratio rose to 1.4x and 1.5x, respectively, in fiscal 2016, as compared to 1.1x and 1.4x, respectively, in fiscal 2015.

Projections

Apple has made the following projections for fiscal 1Q17:

  • revenue of $76 billion–$78 billion
  • gross margin of $38%–38.5%

Now let’s discuss Drew Industries (DW).

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