3a) From a comparison of fundamental metrics, most would agree that Tesla, Inc. would be considered "expensive" relative to Apple, Inc. Do you agree with this statement? 3b) Can you think of any reasons that might explain why this could be the case? Apple Annual Cash Flow from Operating Activities (Millions of US $) 2019 $69,391 2018 $77,434 2017 $64,225 2016 $66,231 2015 $81,266 Operating Activities Fiscal year is January-December. All values USD millions. 2015 2016 2017 2018 2019 5-year trend + Net Income before Extraordinaries (888.66M) (773.05M) (2.248) (1.06B) (775M) Depreciation, Depletion & Amortization 422.59M 947.1M 1.64B 1.9B 2.15B Depreciation and Depletion 769.3M Amortization of Intangible Assets 866.7M Deferred Taxes & Investment Tax Credit Deferred Taxes Investment Tax Credit Other Funds 434.86M 395.98M 1.04B 1.2B 1.38B Funds from Operations (31.21M) 570.03M 435.95M 2.04B 2.75B Extraordinaries Changes in Working Capital (493.29M) (693.86M) (496.6M) 57.95M (349M) Receivables 46.27M (213.1M) (24.64M) (496.73M) (367M) Accounts Payable 263.35M 750.64M 388.21M 1.72B 682M Other Assets/Liabilities 770.96M 1.23B 841.25M 69.84M 529M + Net Operating Cash Flow (524.5M) (123.83M) (60.65M) 2.1B 2.41B