Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
The Company’s common stock is traded on The Nasdaq Stock Market LLC under the symbol AAPL.
Common Stock Split
On August 28, 2020, the Company effected a four-for-one stock split to shareholders of record as of August 24, 2020. All share, restricted stock unit (“RSU”) and per share or per RSU information has been retroactively adjusted to reflect the stock split.
Holders
As of October 16, 2020, there were 22,797 shareholders of record.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Share repurchase activity during the three months ended September 26, 2020 was as follows (in millions, except number of shares, which are reflected in thousands, and per share amounts):
Periods Total Number
of Shares Purchased Average Price
Paid Per Share Total Number of Shares
Purchased as Part of Publicly
Announced Plans or Programs Approximate Dollar Value of
Shares That May Yet Be Purchased
Under the Plans or Programs (1)
June 28, 2020 to August 1, 2020:
Open market and privately negotiated purchases 67,990 $ 94.68 67,990
August 2, 2020 to August 29, 2020:
May 2020 ASR 3,115 (2)
3,115
Open market and privately negotiated purchases 40,004 $ 115.99 40,004
August 30, 2020 to September 26, 2020:
Open market and privately negotiated purchases 60,725 $ 114.00 60,725
Total 171,834 $ 56,353
(1) As of September 26, 2020, the Company was authorized to purchase up to $225 billion of the Company’s common stock under a share repurchase program announced on April 30, 2020, of which $168.6 billion had been utilized. The remaining $56.4 billion in the table represents the amount available to repurchase shares under the authorized repurchase program as of September 26, 2020. The Company’s share repurchase program does not obligate it to acquire any specific number of shares. Under this program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.
(2) In May 2020, the Company entered into an accelerated share repurchase arrangement (“ASR”) to purchase up to $6.0 billion of the Company’s common stock. In August 2020, the purchase period for this ASR ended and an additional 3 million shares were delivered and retired. In total, 64 million shares were delivered under this ASR at an average repurchase price of $94.14.
Apple Inc. | 2020 Form 10-K | 17
Company Stock Performance
The following graph shows a comparison of cumulative total shareholder return, calculated on a dividend-reinvested basis, for the Company, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U.S. Technology Supersector Index for the five years ended September 26, 2020. The graph assumes $100 was invested in each of the Company’s common stock, the S&P 500 Index, the S&P Information Technology Index and the Dow Jones U.S. Technology Supersector Index as of the market close on September 25, 2015. Note that past stock price performance is not necessarily indicative of future stock price performance.
* $100 invested on September 25, 2015 in stock or index, including reinvestment of dividends. Data points are the last day of each fiscal year for the Company’s common stock and September 30th for indexes.
Copyright © 2020 Standard & Poor’s, a division of S&P Global. All rights reserved.
Copyright © 2020 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved.
September 2015 September 2016 September 2017 September 2018 September 2019 September 2020
Apple Inc.
$ 100 $ 100 $ 140 $ 208 $ 204 $ 424
S&P 500 Index
$ 100 $ 115 $ 137 $ 161 $ 168 $ 194
S&P Information Technology Index
$ 100 $ 123 $ 158 $ 208 $ 226 $ 333
Dow Jones U.S. Technology Supersector Index
$ 100 $ 122 $ 156 $ 205 $ 218 $ 325
Apple Inc. | 2020 Form 10-K | 18
Item 6. Selected Financial Data
The information set forth below for the five years ended September 26, 2020, is not necessarily indicative of results of future operations, and should be read in conjunction with Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and accompanying notes included in Part II, Item 8 of this Form 10-K to fully understand factors that may affect the comparability of the information presented below (in millions, except number of shares, which are reflected in thousands, and per share amounts).
2020 2019 2018 2017 2016
Total net sales
$ 274,515 $ 260,174 $ 265,595 $ 229,234 $ 215,639
Net income
$ 57,411 $ 55,256 $ 59,531 $ 48,351 $ 45,687
Earnings per share:
Basic
$ 3.31 $ 2.99 $ 3.00 $ 2.32 $ 2.09
Diluted
$ 3.28 $ 2.97 $ 2.98 $ 2.30 $ 2.08
Cash dividends declared per share
$ 0.795 $ 0.75 $ 0.68 $ 0.60 $ 0.545
Shares used in computing earnings per share:
Basic
17,352,119 18,471,336 19,821,510 20,868,968 21,883,281
Diluted
17,528,214 18,595,651 20,000,435 21,006,767 22,001,126
Total cash, cash equivalents and marketable securities
$ 191,830 $ 205,898 $ 237,100 $ 268,895 $ 237,585
Total assets
$ 323,888 $ 338,516 $ 365,725 $ 375,319 $ 321,686
Non-current portion of term debt
$ 98,667 $ 91,807 $ 93,735 $ 97,207 $ 75,427
Other non-current liabilities
$ 54,490 $ 50,503 $ 48,914 $ 44,212 $ 39,986
Apple Inc. | 2020 Form 10-K | 19