Stephen Clapham – A Walk Through Apple’s 10-K

Watch a hedge fund analyst study Apple’s accounts, and learn a process you can use to research any company.

In this online training, you’ll watch an experienced hedge-fund analyst tackle Apple’s latest 10-K and financials, page by page.

By doing so, you’ll gain a strong foundational knowledge of Apple. More importantly, you’ll see how a professional analyst goes about studying potential investments. So you can use my process to read and understand any company’s 10-K or annual report.

If you’re already comfortable with annual reports, you’ll find new ways to find stock-moving information faster. And if you aren’t fully comfortable with 10-Ks yet, you’ll go from confused to confident in just a few hours.

After taking this course, you’ll have a solid knowledge of Apple’s business and financials. With key insights into its financial condition, operating segments, and trends to watch out for.

What’s more, you’ll learn a hedge fund analyst’s process for using public accounts and reports to study a company. You’ll know how to ask the right questions in your analysis and where to find the answers. Not just for Apple, but for any public company.

What You’ll Learn In A Walk Through Apple’s 10-K

Welcome

• Welcome to the Course

Resources

• The 10-K
• Spreadsheet Workings

A: Introduction to the 10-K

• Introduction to the Section
• Structure of the 10-K

B: Introduction to Apple’s 10-K 2022

• Welcome and Introduction
• 1 Business Description
• 2 Competition
• 3 Business – Other Factors
• 4 Industry Risks
• 5 Business Risks
• 6 Legal Risks
• 7 Financial Risks
• 8 General Risks

C: Apple 2022 Balance Sheet

• Welcome
• 1 Audit Report
• 2 Non-Current Assets
• 3 Other Non-Current Assets
• 4 Current Assets and Working Capital
• 5 Working Capital Ratios
• 6 Current Liabilities
• 7 Cash and Debt
• 8 Equity

D Apple 2022 Cash Flow and Net Cash Position

• 1 Cash Flow: Introduction
• 2 Cash Flow: Cash from Operations
• 3 Cash Flow: Cash from Investing
• 4 Cash Flow: Cash from Financing and Net Debt
• 5 Cash Flow: Reconciling the Cash Outflow

E Apple 2022 P&L

• 1 Revenue
• 2 Revenue Breakdown – Segmental
• 3 Revenue Breakdowns – Segments & Products
• 4 Gross Margin
• 5 Costs and EBIT Margin
• 6 EBIT to EPS
• 7 MD&A
• 8 Accounting Policies I Revenue Recognition
• 9 Accounting Policies II

F Notes to Apple Financial Statements

• 1 Notes to the Accounts I Deferred Revenue and Rate Sensitivities
• 2 Notes to the Accounts II Cash and Securities
• 3 Notes to the Accounts III Receivables
• 4 Notes to the Accounts IV Tax
• 5 Notes to the Accounts V Leases
• 6 Notes to the Accounts VI Debt
• 7 Notes to the Accounts VII – Buybacks and Stock Options
• 8 Notes to the Accounts VIII Commitments and Contingencies

Wrap-up

• Wrap-Up

When will I receive my course?

You will receive a link to download your course immediately or within 1 to 21 days. It depends on the product you buy, so please read the short description of the product carefully before making a purchase.

How is my course delivered?

We share courses through Google Drive, so once your order is complete, you'll receive an invitation to view the course in your email.

To avoid any delay in delivery, please provide a Google mail and enter your email address correctly in the Checkout Page.

In case you submit a wrong email address, please contact us to resend the course to the correct email.

How do I check status of my order?

Please log in to TradingAZ account then go to Order Page. You will find all your orders includes number, date, status and total price.

If the status is Processing: Your course is being uploaded. Please be patient and wait for us to complete your order. If your order has multiple courses and one of them has not been updated with the download link, the status of the order is also Processing.

If the status is Completed: Your course is ready for immediate download. Click "VIEW" to view details and download the course.

Where can I find my course?

Once your order is complete, a link to download the course will automatically be sent to your email.

You can also get the download link by logging into your TradingAZ account then going to Downloads Page.