Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. As of today (2021-04-13), Apple's Beta is 1.29.
Apple Beta Historical Data
* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.
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Apple Annual Data
Sep11
Sep12
Sep13
Sep14
Sep15
Sep16
Sep17
Sep18
Sep19
Sep20
Beta
1.55
1.39
1.27
1.10
1.28
Apple Quarterly Data
Mar16
Jun16
Sep16
Dec16
Mar17
Jun17
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Beta
1.20
1.08
1.10
1.28
1.25
Competitive Comparison
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.
Apple Beta Distribution
* The bar in red indicates where Apple's Beta falls into.
Apple Beta Calculation
Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. A stock's beta can be calculated by dividing the product of the covariance of the individual stock's returns and the market's returns by the variance of the market's returns over a specified period. Basically, GuruFocus uses the returns calculated over three-year period.
Apple (NAS:AAPL) Beta Explanation
Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. We usually compare beta to 1. A beta of 1 indicates that the security's price will move with the market. A beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market.
Beta is primarily used in the Capital Asset Pricing Model (CAPM) to calculate the Cost of Equity, which can be used in the calculation of WACC %. The formula of Cost of Equity is:
Cost of Equity = Risk-Free Rate of Return + Beta of Asset * (Expected Return of the Market - Risk-Free Rate of Return)
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