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Advisor(s)
Abstract(s)
The main objective in this dissertation is to get an accurate estimate about
Apple Inc intrinsic value in the end of the respective fiscal year (09/2012) using as
valuation method the cost of capital approach. In addition, it is studied the long run
relationship adjustment from market price towards respective fair value, using the
error correction model.
Apple Inc intrinsic value was estimated to be equal to 533.912$ million taking
into account 110.505$ million in cash. As a result, Apple Inc equity value per share
was estimated to be equal to 568,48$. Additionally, the long run market price
equilibrium would be equal to 470,96$ (assuming no changes in the intrinsic value).