Apple Passes Microsoft as No. 1 in Tech

[ronaldrwl]

Apple's market cap has surpassed Microsoft's.

http://www.nytimes.com/2010/05/27/technology/27apple.html?partner=yahoofinance

I started out programming on the Apple ][ and then Mac computers a long time ago. What a dramatic turn around for Apple. Good for Apple. They make products people will pay for.

[al_g]

MS still has less revenue then Apple, so while market cap is an important statistic I think many people are cheerleading way too much for Apple over this. Heck comparing revenue which removes the stock variable neither MS or Apple are the biggest tech company, instead look at IBM.

[TS12000]

I swear Steve Jobs sold his soul for the iPod.

[ronaldrwl]

Revenue:
Microsoft $58.4 Billion
Apple $42.9 Billion
IBM $23.3 Billion.

Profit:
Microsoft $14.6 billion
IBM $10.6 billion
Apple $5.7 billion

The market cap is the perceived future value by investors.

[Hoosier]

The market cap is the perceived future value by investors.

Market cap is # of shares * share value, right? I guess I could google it.

[MrPrena]

AAPL's PE is 20ish, and MSFT is 12ish.
Market Cap, P/E, EBIDTA, R, ROA, ROE, and EPS are fairly basic fundementals.
Also, take a look at balance sheets, cash flow, income statements, and Short Sales ratio.

Yes, AAPL has a higher market cap than MSFT, and AAPL is valued higher than MSFT relative to earnings.

I was super supporter of Apple products during 1994-2004.
Now, I am not an Apple fan at all. I do NOT own any apple products.




AAPL
VALUATION MEASURES

Market Cap (intraday)5: 222.12B
Enterprise Value (May 27, 2010)3: 198.97B
Trailing P/E (ttm, intraday): 20.69
Forward P/E (fye Sep 26, 2011)1: 15.83
PEG Ratio (5 yr expected): 1.12
Price/Sales (ttm): 4.36
Price/Book (mrq): 5.67
Enterprise Value/Revenue (ttm)3: 3.89
Enterprise Value/EBITDA (ttm)3: 12.59


FINANCIAL HIGHLIGHTS

Fiscal Year
Fiscal Year Ends: Sep 26
Most Recent Quarter (mrq): Mar 27, 2010


Profitability
Profit Margin (ttm): 21.15%
Operating Margin (ttm): 29.38%


Management Effectiveness
Return on Assets (ttm): 18.72%
Return on Equity (ttm): 33.97%


Income Statement
Revenue (ttm): 51.12B
Revenue Per Share (ttm): 56.76
Qtrly Revenue Growth (yoy): 48.60%
Gross Profit (ttm): 17.22B
EBITDA (ttm): 15.80B
Net Income Avl to Common (ttm): 10.81B
Diluted EPS (ttm): 11.80
Qtrly Earnings Growth (yoy): 89.80%


Balance Sheet
Total Cash (mrq): 23.16B
Total Cash Per Share (mrq): 25.45
Total Debt (mrq): 0.00
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 2.64
Book Value Per Share (mrq): 43.26


Cash Flow Statement
Operating Cash Flow (ttm): 13.49B
Levered Free Cash Flow (ttm): 6.91B

TRADING INFORMATION


Stock Price History
Beta: 1.52
52-Week Change3: 83.47%
S&P500 52-Week Change3: 19.58%
52-Week High (Apr 26, 2010)3: 272.46
52-Week Low (May 27, 2009)3: 130.91
50-Day Moving Average3: 251.86
200-Day Moving Average3: 219.57


Share Statistics
Avg Vol (3 month)3: 23,599,000
Avg Vol (10 day)3: 34,508,900
Shares Outstanding5: 909.94M
Float: 903.32M
% Held by Insiders1: 0.65%
% Held by Institutions1: 73.00%
Shares Short (as of May 14, 2010)3: 11.49M
Short Ratio (as of May 14, 2010)3: 0.40
Short % of Float (as of May 14, 2010)3: 1.30%
Shares Short (prior month)3: 11.50M



MSFT
VALUATION MEASURES

Market Cap (intraday)5: 219.18B
Enterprise Value (May 27, 2010)3: 188.00B
Trailing P/E (ttm, intraday): 12.96
Forward P/E (fye Jun 30, 2011)1: 10.83
PEG Ratio (5 yr expected): 1.49
Price/Sales (ttm): 3.84
Price/Book (mrq): 5.00
Enterprise Value/Revenue (ttm)3: 3.16
Enterprise Value/EBITDA (ttm)3: 7.45


FINANCIAL HIGHLIGHTS

Fiscal Year
Fiscal Year Ends: Jun 30
Most Recent Quarter (mrq): Mar 31, 2010


Profitability
Profit Margin (ttm): 29.03%
Operating Margin (ttm): 38.43%


Management Effectiveness
Return on Assets (ttm): 18.60%
Return on Equity (ttm): 41.83%


Income Statement
Revenue (ttm): 59.54B
Revenue Per Share (ttm): 6.72
Qtrly Revenue Growth (yoy): 6.30%
Gross Profit (ttm): 46.28B
EBITDA (ttm): 25.25B
Net Income Avl to Common (ttm): 17.29B
Diluted EPS (ttm): 1.93
Qtrly Earnings Growth (yoy): 34.60%


Balance Sheet
Total Cash (mrq): 37.19B
Total Cash Per Share (mrq): 4.24
Total Debt (mrq): 6.00B
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 2.06
Book Value Per Share (mrq): 5.22


Cash Flow Statement
Operating Cash Flow (ttm): 22.31B
Levered Free Cash Flow (ttm): 16.42B

TRADING INFORMATION


Stock Price History
Beta: 0.93
52-Week Change3: 24.24%
S&P500 52-Week Change3: 19.58%
52-Week High (Apr 23, 2010)3: 31.58
52-Week Low (May 28, 2009)3: 20.05
50-Day Moving Average3: 29.54
200-Day Moving Average3: 29.53


Share Statistics
Avg Vol (3 month)3: 63,265,200
Avg Vol (10 day)3: 89,340,100
Shares Outstanding5: 8.76B
Float: 7.71B
% Held by Insiders1: 12.25%
% Held by Institutions1: 64.90%
Shares Short (as of May 14, 2010)3: 66.00M
Short Ratio (as of May 14, 2010)3: 0.90
Short % of Float (as of May 14, 2010)3: 0.80%
Shares Short (prior month)3: 70.37M

[al_g]

Revenue:
Microsoft $58.4 Billion
Apple $42.9 Billion
IBM $23.3 Billion.

Profit:
Microsoft $14.6 billion
IBM $10.6 billion
Apple $5.7 billion

The market cap is the perceived future value by investors.
Not sure where those revenue numbers are because they don't match up with the published info from any of the three companies.

Market cap is used by investors to determine the future value but just because investors think it is a good deal doesn't mean it is. Right now investors see Apple growing more rapidly but if their crystal ball was anything but murky no one would ever lose money :)

Most recent quarterly revenue:
http://www-03.ibm.com/press/us/en/pressrelease/29942.wss
$22.9 billion

http://www.microsoft.com/msft/earnings/fy10/earn_rel_q3_10.mspx
14.50 billion

http://images.apple.com/euro/cemea_en/pr/library/2010/04/20results.pdf
13.50 billion

Most recent annual revenue:
http://www.ibm.com/annualreport/2009/highlights.shtml
$95.758 billion

http://www.microsoft.com/msft/reports/ar09/10k_fh_fin.html
$58.437 billion

Apple FY 2009 (Couldn't find an annual report but added up 2009 quarterly)
$36.54 billion

4th quarter
http://www.apple.com/pr/library/2009/10/19results.html
$9.87

3rd quarter
http://www.apple.com/pr/library/2009/07/21results.html
$8.34

2nd quarter
http://www.apple.com/pr/library/2009/04/22results.html
$8.16

1st quarter
http://www.apple.com/pr/library/2009/01/21results.html
$10.17

So Apple has a fair ways to go to pass MS and a huge jump to even tie IBM for the #1 spot in tech.

[ronaldrwl]

Market cap is # of shares * share value, right? I guess I could google it.

That's correct. But the stock price is driven by what value the investors perceive the company has or will have. This is a remarkable turn around and vindication of Steve Jobs vision. He/Apple have dramatically determined how personnel computer look and work, MP3 players, Smart Phones, first laser printer, etc. and now a new computing devise the iPad. The first couch top computer which looks to be very popular and my wife loves. When traveling she gets stopped constantly and draws crowds to see it. People are very interested in what Apple does.