Sunday, April 11, 2010

AAPL- Apple Inc.



Apple was established in Cupertino, California on April 1, 1976 and incorporated January 3, 1977. The company was founded by Steve Jobs, Steve Wozniak and Ronald Wayne. The company was originally known as Apple Computers Inc., on January 9, 2007, the company removed "Computer" from their name. The company has went from creating computers to being one of the most popular electronics company in the world. Apple was announced to be the most admired company in the world in 2008, 2009 and 2010. Steve Jobs is the company's current CEO and Chairman, Tim Cook is the current Chief Operating Officer, Peter Oppenheimer is the Chief Financial Officer and Phil Schiller is the Senior Vice President and in charge of Marketing.

Apple designs personal computer hardware, software, and consumer devices, such as the iPod music player, the Macintosh computer, and the iPhone. Apple's iTunes online store sells music and videos for download and is the largest retailer of music in the world. Apple sells its products online as well as through company stores and retail chains around the globe.

Apple competes with such companies such as Microsoft, Windows, Dell, Gateway and many other electronic and software companies.

Our group purchased APPL because apple is one of the greatest stocks and we believed that it will always end up going up, however, we were mistaken. We purchased 90 shares of APPL at $205.00 on 1/28/2010 a few days before the announcement of the iPad. The stock took a huge hit in the next weeks we sold 90 shares at $204.64 on 2/26/2010. We realize now that it was a stupid decision and we should have just waited because in the next month the price jumped to around $240.

1 comment: