Apple苹果产品介绍

1、Apple ComputersJessica BourgoinAmy KakukBeth Theriault04/25/2005OutlineBrief History of HDWhere we are nowVision and Mission External Analysis CPM EFE Summary Internal Analysis IFE Financial ratio analysis Net Worth Analysis SummaryStrategic Analysis SWOT Matrix SPACE Grand Strategy Matrix IE matrix

2、 BCG SummaryPossible strategies QSPM Recommendations Strategic implementation and desired results Objectives & GoalsHistory 1976-1978Wozniak and Jobs form the Apple Computer Company on April Fools Day. Wozniak and Jobs finish work on a preassembled computer circuit board. It has no keyboard, case, s

3、ound or graphics. They call it the Apple I. The Apple I board is released for sale to hobbyists and electronics enthusiasts at the price of $666.66. Apples first formal business plan sets a goal for sales to grow to $500 million in ten years. As it turns out, the company will pass that mark in half

4、the time. Apple I computer boards are sold through 10 retail stores in the U.S. Apple moves from Jobs garage to a building on Stevens Creek Boulevard in Cupertino, California. The new Apple II is unveiled at the first West Coast Computer Fair. It is the first personal computer able to generate color

5、 graphics and includes a keyboard, power supply and attractive case. The Apple logo as seen today is designed by Rob Janoff, art director for Regis McKenna Advertising. Regis McKenna Advertising launches its first ad campaign for Apple. Although advertising is initially aimed at electronics enthusia

6、sts, Apple will soon become the first company to advertise personal computers in consumer magazines. Monthly orders reach a $1 million annual sales rate. http:/www.apple- 1978 Apple introduces various interface cards for connecting to most printers. Apples Disk II is introduced at the Consumer Elect

7、ronics Show. It is the easiest to use, lowest priced, and fastest mini-floppy disk drive ever offered by a computer manufacturer. It will make possible the development of serious software. Production at first is handled by just two employees, turning out 30 drives a day. In only its second year, App

8、le is one of the fastest growing companies in America. Sales have increased, and its dealer network has grown to over 300. History 1979-1981Apples first printer, the Silentype, is introduced. Apple opens a manufacturing plant in Carrollton, TX. Apple facilities now occupy more than half a million sq

9、uare feet of floor space in the U.S. and Europe. Apple goes public. Morgan Stanley and Co. and Hambrecht & Quist underwrite an initial public offering of 4.6 million shares of Apple common stock at a price of $22 per share. Every share is bought within minutes of the offering, making this the larges

10、t public offering since Ford went public in 1956. Apples employee count breaks 1,000. Apples distribution network is the largest in the industry-800 independent retailers in the U.S. and Canada, plus 1,000 outlets abroad. Apples first mass storage system, the 5MB ProFile(tm) hard disk is introduced,

11、 priced at $3,499. Apple becomes a household name. Surveys show that public awareness rose from 10 percent to 80 percent in 1981. History 1982-1985Apple Dot Matrix printer introduced for $2,195. Apple becomes the first personal computer company to reach $1 billion annual sales rate. It throws a Bill

12、ion Dollar Party for employees. Apple University founded to provide employee training programs. Apple enters the Fortune 500 at number 411 in under five years. EVA (Employee Volunteer Action) is created to match the skills of Apple employees with community needs. Apple is elected to the Consumers Di

13、gest Hall of Fame for responsiveness to consumer needs. Apple II receives the 1984 Industrial Design Excellence Award (IDEA) sponsored by the Product Industrial Designers Society of America. Apple announces a computer training scholarship program for elementary and secondary school educators. Histor

14、y 1986-1990Apple announces plans to create an independent software company, to be known later as Claris.For the first time, Apple uses its HyperCard technology to distribute a 1987 HyperCard supplement on diskette for Macintosh personal computers. Apple files suit against Microsoft and Hewlett-Packa

15、rd to protect its Macintosh audio visual display. The lawsuit is seen as having industry wide implications regarding copyright laws. Apple reports first billion dollar quarter in its history as net income rises 108 percent. Apple reports net sales of $4.07 billion and net income of $400.3 million fo

16、r fiscal year 1988. Apple acquires Coral Software Corp., which markets programming languages and artificial intelligence tools for Macintosh computers. Apple introduces 32-Bit QuickDraw(tm) that allows Macintosh personal computers to process and display photo-quality documents, images and visualizat

17、ions with exceptional color clarity. Apple donates $2 million in computers to 23 schools to help at-risk students. Fiscal 1990 revenues surpass $5.5 billion. History 1991-1995Apple announces it will restructure the company over the next 12 months to reduce operating expenses. Apples workforce is red

18、uced approximately 10 percent. Apple and IBM sign a letter of intent to cooperate on major technology initiatives for the 1990s. Apple, IBM, and Motorola finalize milestone technology alliance. Apple announces a new Token Ring 4/16 NB Card, for the Macintosh product line. It is the first product to

19、emerge from Apple and IBM alliance. Apple and Kodak announce that they are working together to integrate support for Photo CD images into future versions of QuickTime. The U.S. Environmental Protection Agency officially releases the Energy Star emblem for display with energy-efficient computers and

20、peripherals. Apple has more than 20 products that meet the EPAs the technical requirements. Apples Macintosh celebrates 10th birthday! As of January 2005 Apple has introduced the Mini Mac and the iPod Shuffle.Apple in 2005 The Apple Mini Mac is a compact desktop computer. It is 2 inches tall and wei

21、ghts 2.9lbs. The Mini Mac starts at $499 and comes standard with iChat AV desktop video conferencing, Mail, Address Book, QuickTime, iSync, and a DVD Player.http:/ from: http:/ MaciPod Shuffle The iPod shuffle is a smaller version of the original iPod. It is much smaller and lighter and can double a

22、s a portable USB flash drive with up to 1GB of storage space to back up personal files and exchange them between computers. For $99 you can purchase the 512MB holding up to 120 songs or the 1GB holding up to 240 songs for just $149. Graphics from: http:/ OS X Tiger On April 29, 2005, the Mac OS X Ti

23、ger will be released. This is an advanced operating system that requires a Macintosh computer with a PowerPC G3, G4 or G5 processor, Built-in FireWire, 256MB of RAM, and 3GB of available hard disk space. It cost $129 for a single user and $199 for a 5 license family packhttp:/ in the Market (as of 4

24、/22/05)Last Trade: 35.50 52 Week Low: 12.7552 Week High: 45.44 Apple had a 2:1 Stock split on 02/28/05Vision Statement (proposed) To become the world wide leader in computer and mp3 player sales. Mission Statement (actual) Apple ignited the personal computer revolution in the 1970s with the Apple II

25、 and reinvented the personal computer in the 1980s with the Macintosh. Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings. The Apple commi

26、tment to excellence is its mission to provide computers and service (2) for people (1) that meet the highest standards of value and reliability. Apple is one of leaders in the computer industry and makes the best-selling computers in the world (7) (3). Apple provides the highest level of quality and

27、 value for our customers. Those are timeless fundamentals. We also apply innovative technology to our core business (4) to differentiate ourselves and make our products irresistible to our customers, beneficial to society, and profitable to our company (5). We strive to provide additional opportunit

28、ies for growth and enrichment of company personnel while maintaining a work environment for all employees (9) that encourages personal commitment and participation in support of achieving excellence. We are committed to being a good corporate citizen, and being openly honest with all of our stakehol

29、ders (6). We support activities that help to build common understanding, enhance excellence, and enable people to improve their lives and reinforce their commitment to society (8).Mission Statement (Proposed)External Audit OpportunitiesIncrease in worms and viruses on PCs. Large population (Gen X&Y)

30、 which are extremely individualistic and name brand conscious.Weak ties with Microsoft products.Downloadable music and MP3 players are highly marketable.Increase sales of computers online by 25 percent.Increase sales of laptops by 20 percent.ThreatsCompanies not seeing Apple as compatible with their

31、 software.Dell and HP are major competitors.Increasing competition with music downloads.Dell does not invent but provides computers at a more cost effective rate for customers.Recessionprice of Apple computers are higher.Intels future Pentium release.CPM Competitive Profile Matrix Apple Computer Mar

32、ket DellCritical Success FactorsWeightRatingWeighted ScoreRatingWeighted ScoreRatingWeighted ScoreMarket SharePriceFinancial PositionProduct QualityConsumer LoyaltyAdvertisingManagementGlobal ExpansionInnovationWeb Development40.060.060.140.0512334242450.450.600.08

33、60.1533222332220.300.300.300.300.3020.280.1044343333230.400.400.450.600.480.280.15Total1.00 2.95 2.30 3.21External Factor Evaluation (EFE) Matrix Key External FactorsWeightRatingWeightedScoreOpportunitiesIncrease in worms and virus on PCs.0.1540.60Downloadable music

34、 and MP3 players are highly marketable.0.630.18Large population (Gen X & Y) which are extremely individualistic and name brand conscious.0.1540.60Increase in sales of laptops by 20 percent.0.0430.12Increasing sales of computers online by 25 percent.0.0530.15Creating more ties with Microsoft products

35、.0.1040.40ThreatsIncreasing competition with music downloads.0.0720.14Intels future Pentium release.0.0330.09Dell and HP are major competitors.0.1040.40Dell does not invent but provides computers at a more cost effective rate for customers.0.0630.18Recessionprice of Apple computers are higher.0.0420

36、.08Companies not seeing Apple as compatible with their software.0.1520.30TOTAL1.003.24External SummaryApple has rated the Increase in worms and virus on PCs, Large population (Gen X & Y) which are extremely individualistic and name brand conscious, and the Creating more ties with Microsoft products

37、as their three highest opportunities.Apple has rated that the fact of Dell and HP being such huge competitors as their top threat.Internal Audit StrengthsiTunes Music Store is a good source of revenue, especially with the iPod and the availability on Windows platform. Developing own software and har

38、dware. Apples niche audience provides the company with some insulation from the direct price competition. Revamping desktop and notebook lines. Web technology can be used to improve product awareness and sales.Low debtmore maneuverable.Good brand loyalty.WeaknessesWeak relationship with Intel and Mi

39、crosoft. Weak presence in business arena. Dependency on new product launches.Weak presence in markets other than education and publishing.Slow turn around on high demand products.Internal Factor Evaluation (IFE) MatrixKey Internal FactorsWeightRatingWeighted ScoreStrengths iTunes Music Store is a go

40、od source of revenue, especially with the iPod and the availability on Windows platform.0.1540.60Apples niche audience provides the company with some insulation from the direct price competition.0.1030.30Revamping desktop and notebook lines.0.1030.30Low debtmore maneuverable. 0.0640.24Developing own

41、 software and hardware.0.1430.42Good brand loyalty.0.0530.15Web technology can be used to improve product awareness and sales.0.1040.40WeaknessesDependency on new product launches.0.0610.06Weak presence in business arena.0.0710.07Slow turn around on high demand products.0.0320.06Weak relationship wi

42、th Intel and Microsoft.0.1010.10Weak presence in markets other than education and publishing.0.0420.08Total1.002.78Financial Ratio Analysis (March 2004)CompanyIndustrySectorS&P 500Valuation RatiosP/E Ratio (TTM)69.7026.8733.5224.01P/E High - Last 5 Yrs277.9654.5864.1445.41P/E Low - Last 5 Yrs6.8417.

43、3419.5516.26Beta1.751.601.911.00Price to Sales (TTM)1.411.845.083.33Price to Book (MRQ)2.207.564.784.29Price to Tangible Book (MRQ)2.268.776.537.56Price to Cash Flow (TTM)37.6419.6925.4817.32Price to Free Cash Flow (TTM)45.1323.7728.2628.97% Owned Institutions63.2150.3148.1464.19DividendsDividend Yi

44、eldN/A0.700.752.04Dividend Yield - 5 Yr Avg0.000.340.271.48Dividend 5 Yr Growth RateNM7.941.506.48Payout Ratio (TTM)Growth Rates %CompanyIndustrySectorS&P 500Sales (MRQ) vs Qtr 1 Yr Ago36.2812.5418.8913.40Sales (TTM) vs TTM 1 Yr Ago15.4510.9711.7811.90Sales - 5 Yr Growth Rate0.887.0914.529.30EPS (MR

45、Q) vs Qtr 1 Yr AgoN/A34.0035.0728.69EPS (TTM) vs TTM 1 Yr Ago587.0435.5541.7421.92EPS - 5 Yr Growth Rate-29.166.8513.1812.15Capital Spending - 5 Yr Growth Rate28.952.651.994.06Financial Strength Quick Ratio (MRQ)2.261.022.541.26Current Ratio (MRQ)2.531.253.021.76LT Debt to Equity (MRQ)0.000.380.230.

46、68Total Debt to Equity (MRQ)0.070.520.290.85Interest Coverage (TTM)13.7511.349.8111.86Profitability Ratios %Gross Margin (TTM)27.2730.6051.7147.32Gross Margin - 5 Yr Avg26.6531.0851.1347.01EBITD Margin (TTM)3.3412.4318.4120.79Financial Ratios (cont)EBITD - 5 Yr Avg2.8712.1816.1820.82Operating Margin

47、 (TTM)1.638.7013.6320.33Operating Margin - 5 Yr Avg1.258.2811.6218.35Pre-Tax Margin (TTM)2.779.4715.9617.27Pre-Tax Margin - 5 Yr Avg5.349.7614.7717.54Net Profit Margin (TTM)2.036.029.9013.12Net Profit Margin - 5 Yr Avg4.246.558.6711.59Effective Tax Rate (TTM)26.7429.5727.5731.31Effective Tax Rate -

48、5 Yr Avg22.6230.5932.3934.20Management Effectiveness %Return on Assets (TTM) 2.09 8.44 6.07 6.40 Return on Assets - 5 Yr Avg 5.47 9.25 5.79 6.79 Return on Investment (TTM) 3.05 16.54 8.75 9.97 Return on Investment - 5 Yr Avg 7.90 17.57 9.30 10.93 Return on Equity (TTM) 3.26 30.10 12.17 18.71 Return

49、on Equity - 5 Yr Avg 10.37 31.78 13.11 19.22 EfficiencyRevenue/Employee (TTM) 617,760 568,624 401,787 622,866 Net Income/Employee (TTM) 12,555 37,722 65,474 81,707 Receivable Turnover (TTM) 11.59 7.25 7.64 9.76 Inventory Turnover (TTM) 91.47 20.93 9.64 10.46 Asset Turnover (TTM 1.03 1.45 0.77 0.92 F

50、inancial Ratios (cont)Net Worth AnalysisSE + Additional paid in capital + retained earnings 4,095M + 119M +2,325= 6.5B 9/28/02 Net income x 565M x 5 = 325MShare price (10/17/03)/ EPS (10/17/03) x avg. net income (3years)22.75/ 0.49 x 275M = 12.7BNumber of shares outstanding x share price358,958,989

51、x 22.75 = 8.1B Method average = 6.9BInternal SummaryApple has rated their iTunes Music Store being a good source of revenue, especially with the iPod and the availability on Windows platform, their low debtmore maneuverable, and their Web technology being used to improve product awareness and sales

52、as their 3 highest strengths.Apple did not rate any of their weaknesses higher than a 2. they should work on being able to direct more attention to those areas and especially concentrate on the two areas of dependency on new product launches and the weak presence in business arena.SWOT Matrix S-O St

53、rategiesIncrease awareness through the web of the immunity of Mac products to worms and viruses. (S5, O1)Advertise using individuals that will link Generation X & Y to the iTunes and other related products. (S1, O2, O4, O5, O6)Using movies and music groups that are geared towards Gen X and Y to prom

54、ote computers and laptops. (S3, S5, O2, O5, O6)S-T StrategiesIncrease and promote the compatibility to Window operating system. (S5,T1)Promote the originality of Apple computers and the different style and stable system that is slightly more but worth the price difference in style, stability and spe

55、ed. (S2, S5, T2, T4, T5)W-O StrategiesIncrease ties with Microsoft and Intel and their products.(W1, W2, W4 O2, O3)Promote to business the safety of having a worm and virus free computer by using Mac. (W2, W4, O1, O5, O6)W-T StrategiesImprove relationship with Microsoft and Intel so that companies w

56、ill see them as compatible. (W1, W2 T1)Increase productivity and turn around of high demand products to compete with Dell and HP (W5, T2)SPACE Matrix ESISCAFSConservativeCompetitiveDefensiveAggressiveSpace MatrixForward IntegrationBackward IntegrationHorizontal IntegrationMarket PenetrationMarket De

57、velopmentProduct DevelopmentJoint VentureGrand Strategy Matrix RAPID MARKET GROWTHQuadrant IIQuadrant IWEAKSTRONGCOMPETITIVECOMPETITIVEPOSITIONPOSITION Quadrant IIIQuadrant IVSLOW MARKET GROWTHApple ComputerConcentric DiversificationConglomerate DiversificationHorizontal DiversificationRetrenchment

58、DivestitureLiquidationThe Internal-External (IE) Matrix 1.0 to 1.99 IXVIIIVIILow 2.0 to 2.99 VIVIVMedium 3.0 to 3.99 IIIIIIHigh 1.0 to 1.992.0 to 2.993.0 to 4.0 WeakAverageStrongGrow and BuildSegmentsRevenueProfitEFEIFEDomestic54%52%3.52.6International46%48%3.03.0DogsCash CowsMedium 0 Question Marks

59、StarsHigh +20 Boston Consulting Group (BCG) Matrix Low -20High 1.0Medium .50Low 0.0InternationalDomesticSegmentsRevenueProfitEFEIFEGrowth RateRelative Market ShareDomestic54%52%3.52.6170.3International46%48%3.03.050.2Cash need High vs. cash flow lowMarket PenetrationMarket DevelopmentProduct Develop

60、mentSellAlternative StrategiesIESPACEGRANDCOUNTForward Integration*2Backward Integration*2Horizontal Integration*2Market Penetration*2Market Development*2Product Development*2Concentric Diversification*1Conglomerate Diversification*1Horizontal Diversification*1Joint Venture*1Retrenchment *1Divestitu