135 PROJECT GRADE SHEET

Company Name: Apple Inc

Student Name (s) Ryan Carreon, Nik Heisinger

1. Financial Statements and Ratios, including analysis………………………………………………………………

Possible Scores 2 4

Professor's Comments:

2. Ratio comparison and analysis……………………………………………………………………………………………..

Possible Scores 4 8

Professor's Comments:

3. DuPont Analysis and Interpretation (3 Years)………………………………………………………………………..

Possible Scores 1 2

Professor's Comments:

4. Value Line Spread sheet and analysis ………………………………………………………………………………….

Possible Scores 4 8

Professor's Comments:

5. Intrinsic Value (Forecasting) Model and Analysis with ML, OPT., PESS…………...……………..…
 Possible Scores 2 4

Professor's Comments:

6. Graham Model Possible Scores 1 2

7. Buffett Model and Analysis with Interpretation ………………………...………………………………….……

Possible Scores 2 4

Professor's Comments:

8. ROE Model and Analysis with Interpretation …………………………………………………………………….

Possible Scores 2 4

Professor's Comments:

9. Final Analysis. Is it consistent with the resto of your analysis and interpretation?

Does the logic flow from your previous discussion and what is your recommendati

Possible Scores 4 8

Professor's Comments:
ECT GRADE SHEET

arreon, Nik Heisinger

………………………………………………… Your Score

6 8 10

10

………………………………………………..

10 12 15 15

…………………………………………………..

3 4 5 5

………………………………………………….

10 12 15 15

OPT., PESS…………...……………..…
 6 8 10 10

3 4 5 5

……...………………………………….……

6 8 10 10

……………………………………………….

6 8 10 10

s and interpretation?

and what is your recommendation?

12 16 20 20

TOTAL 100
 Apple Inc

An Analysis of Apple Stock Potenti

Presented by: Ryan Carreon and Nik Heis

About Apple

The Company designs, manufactures, and markets mobile communication and media devices, personal computers, and
portable digital music players, and sells a variety of related software, services, accessories, networking solutions, and thirdparty
digital content and applications. The Company’s products and services include iPhone®, iPad®, Mac®, iPod®, Apple
TV®, a portfolio of consumer and professional software applications, the iOS and OS X® operating systems, iCloud®, and a
variety of accessory, service and support offerings. In September 2014, the Company announced Apple Watch™, which is
expected to be available in early calendar year 2015, and Apple Pay™, which became available in the U.S. in October 2014.
The Company also sells and delivers digital content and applications through the iTunes Store®, App Store™, iBooks Store™
and Mac App Store. The Company sells its products worldwide through its retail stores, online stores and direct sales force, as
well as through third-party cellular network carriers, wholesalers, retailers and value-added resellers. In addition, the Company
sells a variety of third-party iPhone, iPad, Mac and iPod compatible products, including application software, and various
accessories, through its online and retail stores. The Company sells to consumers, small and mid-sized businesses (“SMB”)
and education, enterprise and government customers. The Company’s fiscal year is the 52 or 53-week period that ends on the
last Saturday of September. The Company is a California corporation established in 1977.

Mission Statement: Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional
software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with
its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

History: Intel, founded in 1968 to build computer memory products, introduced the world's first microprocessor in 1971. Intel has an
employee base of 82,500 (as of 2010) with about 55% of those employees living in the United States.

Objectives: Values:
200 million to 250 million units of iPhone 6, iPhone 6 Plus and Apple Watch after the Different kinds of people
company asked suppliers to prepare chips for the devices. Deducting the 30 million to Make a difference in the world
40 million chips for the upcoming Apple Watch, the shipments will be just enough to honor Indivividuality
produce over 200 million units of iPhone 6 and iPhone 6 Plus. Best work of our lives
 Objectives: Values:
200 million to 250 million units of iPhone 6, iPhone 6 Plus and Apple Watch after the Different kinds of people
company asked suppliers to prepare chips for the devices. Deducting the 30 million to Make a difference in the world
40 million chips for the upcoming Apple Watch, the shipments will be just enough to honor Indivividuality
produce over 200 million units of iPhone 6 and iPhone 6 Plus. Best work of our lives

Board of Directors

CEO: Tim Cook is the CEO of Apple and serves on its Board of Directors.

Before being named CEO in August 2011, Tim was Apple's Chief Operating Officer and was responsible for all of the company’s
worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support
in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of
strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace. Prior to joining
Apple, Tim was vice president of Corporate Materials for Compaq and was responsible for procuring and managing all of Compaq’s
product inventory. Previous to his work at Compaq, Tim was the chief operating officer of the Reseller Division at Intelligent
Electronics.

Executive Vice President: Andy D. Bryant is executive vice president, Technology, Manufacturing and Enterprise Services, and chief
administrative officer of Intel Corporation. He is responsible for technology development and manufacturing, financial operations,
human resources, information technology and e-business functions and activities worldwide.

Executive Vice President: Angela Ahrendts is Apple's senior vice president of retail and online stores, reporting to CEO Tim
Cook. Angela is responsible for the operation and expansion of Apple retail and online stores, which have redefined the
shopping experience for hundreds of millions of customers around the world. Apple retail stores set the standard for
customer service with innovative features like the Genius Bar, personal setup and one-to-one personal training to help
customers get the most out of their Apple products. Angela joined Apple from Burberry, where she served as CEO and led
the company through a period of outstanding global growth. Prior to Burberry, she was executive vice president at Liz
Claiborne Inc., and earlier in her career she served as president of Donna Karan International.

Board Of Directors

Arthur D Levinson, Ph. D. Tim Cook

Chairman of the Board, Apple CEO
Former Chairman and CEO Apple
Genentech

Andrea Jung Ronald D Sugar, Ph.D.

President and CEO Former Chairman and CEO
Grameen America, Inc. Northrop Grumman

Albert Gore Jr. Susan L wagner

Former Vice President of the United States Co-founder and Director
BlackRock
Rober A Iger
Chairman and CEO
The Walt Disney Company
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 GHARIBWAL CEMENT LIMITED

Intel Corporation Ratios Financial Statements Cynthia Kenyon and Michael Davis
FIN 135, September 23, 2011
 FINANCIAL STATEMENTS COMMON SIZE ANALYSIS

Balance Sheet
Three Years Ended December 25, 2010
(In RUPEES, Except Par Value) 2,019 2,018
Assets
Current Assets:
Inventories 2,429,536 2,202,563
Trade and other receivables 626,963 557,366
Loan and advances 363,870 274,001
Deposits 48,950 46,010
Prepayments 165,723 95,365
Tax refunds due from Government 880,326 308,801
Cash and bank balances 431,760 107,869
Stores and spare
short term inverstment
Total current assets 4,947,128 3,591,975
Long Term Assets:
Property, plant and equipment, net 18,241,973 19,136,955
Equity and other investments - -
Goodwill - -
Intangible Assets 2,902 4,185
Deposits 70,393 109,890
Total assets 23,262,396 22,843,005

Liabilities and stockholders' equity

Current Liabilities
Trade and other payables 3,282,647 3,626,746
Contract liabilities 21,807 28,818
Unclaimed dividend 12,586 4,098
Markup and profit payable 84,438 41,282
Borrowings 1,099,162 1,342,594
Lease liability 587 1,030
current portion of L.T.D
CURRENT INCOME TAX
Total current liabilities 4,501,227 5,044,568

Long term borrowings 2,909,384 2,994,244

Lease liability - 519
Deferred taxation 3,271,186 2,222,277
Deferred markup and profit
Employees' benefits obligations 99,153 90,840
Total Liabilities 10,780,950 10,352,448
Stockholders' equity:
Share capital 4,002,739 4,002,739
Revaluation surplus on property, plant and equipment 3,086,133 3,404,857
Retained earnings 5,392,574 5,082,961

CONTENGENCIES AND OTHER COMMITMENTS - -

Intel Corporation Ratios Financial Statements Cynthia Kenyon and Michael Davis
FIN 135, September 23, 2011
 Total stockholders' equity 12,481,446 12,490,557
Total liabilities and stockholders' equity 23,262,396 22,843,005

Intel Corporation Ratios Financial Statements Cynthia Kenyon and Michael Davis
FIN 135, September 23, 2011
 Income Statement
Three Years Ended December 25, 2010
(In RUPEEs, Except Per Share Data) 2,019 2,018
Net revenue 11,355,918 11,704,607 100.00%
Cost of revenue 8,715,542 8,771,957 74.94%
Gross margin 2,640,376 2,932,650 25.06%
General and administrative expenses (376,969) (383,201) -3.27%
Selling and distribution expenses (213,661) (246,543) -2.11%
Other expenses (111,116) (127,482) -1.09%
d Other Income 4,417 11,353 0.10%
Integration and restructuring - -
Total (697,329) (745,873) -6.37%
Operating income 1,943,047 2,186,777 -18.68%
Finance COST 44,735 26,307 0.22%
Other Income (607,873) (429,535) -3.67%
Income before taxes 0 1,379,909 1,783,549 15.24%
Provision for taxes 643,497 273,895 2.34%
Net Income 736,412 1,509,654 12.90%

Dilluted 1.84 3.77

Intel Corporation Ratios Financial Statements Cynthia Kenyon and Michael Davis
FIN 135, September 23, 2011
 2017 2016 2015 2015 2016 2017 2018 2019

624,850 290,099 624,954 393.46%

509,068 547,746 176,066 110.85%
278,287 360210 240,255 151.26%
68,506
109,440

103,571 384,924 178,699 11.25%

1,133,278 878,719 812,526 511.55%
20,000 104,172 37,904 23.86%
2,847,000 2,565,870 2,070,404

18,677,798 15,397,173 13,722,670 8639.52%

2,268 3,551 4,834 3.04%

88,000 85,696 85,696 53.95%
21,615,066 18,052,290 15,883,604

2560649 1,310,092 1,466,913 923.54%

342,611
61,048 45,246 653,721 411.57%
137,847 86.79%

830,375 527,738 966,189 608.29%

488,023 1,167,004 1,059,070 666.77%
4,282,706 3,050,080 4,283,740

3,674,294 3,362,293 1,486,323 935.76%

1,539 2,433 3,297 2.08%
2,190,311 1,474,257 1,409,499 887.39%
1,102,250 693.95%
85,170 92,160 116,772 73.52%
10,234,020 7,981,223 8,401,881

4,002,739 4,002,739 4,002,739 2520.04%

3,373,909 3,508,947 3,435,857 2163.15%
4,004,398 2,559,381 43,127 27.15%

Intel Corporation Ratios Financial Statements Cynthia Kenyon and Michael Davis
FIN 135, September 23, 2011
 11,381,046 10,071,067 7,481,723
21,615,066 18,052,290 15,883,604

Intel Corporation Ratios Financial Statements Cynthia Kenyon and Michael Davis
FIN 135, September 23, 2011
 2017 2016 20.15
11,222,78 10,522,318 9,601,246
7,368,843 6,350,064 6,632,635
3,853,946 4,172,254 2,968,611
-320,294 -307,069 -255,594
-27,530 -20,703 -20,633
-216,265 -224,663 -110,508
914

(563,175) (552,435) (386,735)

3,290,771 3,619,819 2,581,876
61,965 -278,862 -504,737
-308,059 353,672 14,628
3,044,677 3,694,629 2,091,767
760,980 1,013,573 807,898
2,283,697 2,681,056 1,283,869

5.71 6.70

Intel Corporation Ratios Financial Statements Cynthia Kenyon and Michael Davis
FIN 135, September 23, 2011
 sales (000)
trend analysis 14,000,000
12,000,000
10,000,000
years sales (000)
2015 9,601,246 8,000,000

2016 10,522,318 6,000,000

2017 11,222,78 4,000,000
20118 11,704,607 2,000,000
2019 11,355,918
0
0 5000 10000

s al es (000)
 sales (000)

5000 10000 15000 20000 25000

s al es (000)
 graphic analysis

years sales (000)

2015 9,601,246
sales (000)
2016 10,522,318 14,000,000
2017 11,222,78
12,000,000
20118 11,704,607
10,000,000
2019 11,355,918
8,000,000
6,000,000
4,000,000
2,000,000
0
2015 2016 20

s al es (000)
 sales (000)
000
000
000
000
000
000
000
0
2015 2016 2017 20118 2019

s al es (000)