13 ways of looking at Apple’s best year in a decade

New Year’s Eve special.

MacDailyNews: Apple rose $2.13 or 0.73% to close at $293.65, a new all-time closing high. During trading today, Apple also reached a new all-time intraday high of $293.67.

Variety: Apple defied gravity with an 86.2% gain despite getting 2019 off to a rocky start in January when it had to warn investors of an earnings revision due to slowing global iPhone sales.

FORTUNE: For the entire decade, Apple’s stock rose nearly tenfold. In other words, someone who invested $10,000 in the company on Jan. 1, 2010 would have $109,627 today in stock gains and dividends.

CNBC: Apple’s trailing price-to-earnings, or P/E, ratio steadily climbed this year alongside its stock price. Apple began the year with a trailing P/E ratio just over 13, according to FactSet, below its five-year average of 16.2, before finishing 2019 at 24.7, its highest point since 2010.

Barron’s: Tim Cook Has Increased Apple’s Value by More Than $1 Trillion Since Replacing Steve Jobs. No Other CEO Can Say That.

YAHOO FINANCE: Apple shares rose 85% even though its revenue is rising at an unexciting single-digits percentage rate. It added a streaming TV service and started offering a credit card, pretty humdrum stuff.

The Dow’s top 10 performers of 2019:

  1. Apple +86.2%
  2. Microsoft +55.2%
  3. JPMorgan Chase +42.8%
  4. Viva +42.4%
  5. United Technologies +40.6%
  6. Goldman Sachs +37.6%
  7. Nike +36.6%
  8. Procter & Gamble +35.9%
  9. Disney +31.9%
  10. American Express +30.6%.

The top five U.S. publicly-traded companies, based on market value:

1. Apple (AAPL) – $1.305T
2. Microsoft (MSFT) – $1.203T
3. Alphabet (GOOGL) – $923.760B
4. Amazon (AMZN) – $916.154B
5. Facebook (FB) – $585.3215B

AAPLInvesters: The chart below ranks the top thirty all-time high closing price per share of AAPL. Dates in green indicate closing price was an all-time high at that time.

Apple 3.0: And then there were 10.

My take: Apple nearly reached that magic $300. I expect a bit of profit taking early in the new year—and then a bunch of raised price targets.

6 Comments

  1. John Miller said:
    I’m looking at $293 as being a ~25% increase over $233, the all-time high in August 2018 – before the 2019-FQ1 hiccup.

    5
    December 31, 2019
  2. Fred Stein said:
    Happy New Year.

    Thanks Philip, Tim Cook, and the Apple whole team. Best wishes to friends of this blog.

    One more stat. Apple’s market cap up over $.5T since the low.

    5
    December 31, 2019
  3. Gregg Thurman said:
    I can’t get over everyone’s fascination with AAPL’s gains this year, and how revenue only grew single digits.

    The big money, the smart money, doesn’t buy based on what a Company HAS done, they buy based on what they think the Company is going TO DO.

    In that I believe AAPL has yet to achieve its potential, and may not for another 2 (3?) years. After all, the cable stranglehold on content has been smashed. There are a multitude of players vying for streaming profits, but only 5 maybe 6, will become major players, with Apple (in my estimation, surpassing Netflix as the dominant (most profitable) player in the space.

    Couple that with Apple’s dominance in Wearables, a category that begs platform integration, and Apple has a 1, 2 punch followed by iPhones, giving it a knockout combination that will lead all players in revenue, profits and, if you must, units sold.

    Apple is no longer an iPhone Company, it is a steamroller.

    Thank you Tim Cook.

    7
    December 31, 2019
  4. Gregg Thurman said:
    For each of the remaining quarters in FY2020 I am going to limit my Investor Sentiment Multiple (P/E) to 24, as I believe revenue and earnings are going to increase from here by more than single digits YoY (excellent YoY comparisons) generating very positive Net Income comparisons on a declining share count.

    So as revenue and earnings increase I don’t think we are going to see historic decline in Investor Sentiment Multiples after each earnings report.

    2
    December 31, 2019

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