$Apple (AAPL.US)$Excluded from the March 2023 inventory due ...

Launched in 1980, it mainly sells consumer electronics such as mobile phones, tablets, and computers. The current price is 187.7 in the global market.

It has grown amid fluctuations in revenue over the past 5 years, with an average growth rate of 7.6%. Among them, it shrank 2.8% in 2023, and the average operating profit growth rate was 10%. Among them, it shrank 4.3% in 2023, and net profit grew at an average rate of 10.3%, of which it shrank 2.8% in 2023. Due to continuous share buybacks, the earnings per share growth rate was much higher than net profit. The 5-year average growth rate was 15.5%, and the increase was 0.33% in 2023. The 2023 interest burden is negligible. The gross margin increased from 37.8% to 44.1% in the past 5 years, and the return on net assets increased from 55.9% to 172%.

2024Q1 revenue increased 2.1%, operating profit increased 12.1%, net profit increased 13.1%, and earnings per share increased 16%.

The balance ratio has increased from 73.3% to 82.4% in the past 5 years, and is currently 79%. The inventory ratio has always been very low. Receivables rose sharply in 2021 with a sharp increase in operating profit. The ratio and growth rate are relatively normal. Long-term loans of $95.088 billion are 1.3 times the net assets of $74.1 billion, but cash is also $73.1 billion, and the actual leverage ratio is not high. Common share capital continues to decline.

Currently, the price-earnings ratio is 30.7, and the price-earnings ratio is TTM 29.24. Although the valuation is clearly too high compared to the long-term net profit growth rate, considering the rapid increase in earnings per share due to the continued decline in shares, the current valuation is slightly underestimated. Coupled with the sector position premium, you can choose carefully (⭐️)