Right away, one ought to notice the staggering growth rate in both revenue and earnings that Apple displayed in 2008. Apple’s real revenue grew 54.5% from $24.637 billion in FYE 2007 to $38.041 billion in FYE 2008 — a full $13.4 billion growth in revenues. Even more impressive is Apple’s 81.2% growth rate in adjusted net income. For a company that is trading at 12 times 2008 earnings, it doesn’t take a genius to conclude that Apple is severely undervalued. Especially since Apple currently trades at about 3.37 times its cash position — which is objectively and significantly lower than every other large cap tech company.
GOOG trades at 7.18 times its cash position, RIMM at 15.51 times cash, AMZN at 9.15 times cash, MSFT at 9.13 times cash, CSCO at 3.62 times cash, IBM at 10.96 times cash, INTC at 6.54 times cash, and HPQ at 5.15 times cash. What is more, only GOOG, AAPL and MSFT have no debt of the companies mentioned above. Apple has the largest net cash position than any of those companies and Apple has more net cash than RIMM, GOOG, AMZN and IBM combined.
Don't you love when someone makes something completely out of the box? I do. AC/DC made the first video clip made entirely in Excel, a video for the "Rock N Roll Train" music. Download the spreadsheet from http://www.acdcrocks.com/excel/ or see it working:
This timeline presents significant events and developments in the innovation and management of information and documents from cave paintings (ca 30,000 BC) to the present
Click the image to jump to the website and try it for yourself:
Please help me to love myself.
Don’t spoil me; I know quite well that I shouldn’t have all that I ask for.
I’m only testing you – give me the discipline I need.
I need my sense of dignity so don’t belittle me in front of people.
I’ll take more notice if you talk to me with as much respect as you give your grown-up friends.
Don’t be too upset when I say that I hate you. It isn’t you I hate but your power over me.
Please be patient with me, I may be a late bloomer.
Please keep me feeling good about myself by telling the good things about myself more often than you tell me of the bad things you don’t like.
Don’t bribe me or make rash promises. Remember that I feel badly let down when promises are broken.
The more you give me the safety to expose my true feelings the more of my inner beauty I will risk showing.
Don’t be inconsistent, that confuses me and makes me lose faith in you.
Please praise and acknowledge me for who I am and not for the things I do, for then I will grow up without the stress of comparing and competing.
Please keep reminding me that I am good, capable and worthwhile, so that I grow up loving and accepting myself.
And finally, don’t forget that I can’t thrive without your love and understanding… but I don’t need to tell you, do I?
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