Company chosen is Apple.

Hi All, Great job on the second project. Now for the last project (which is less demanding), I want you to pick an American publicly listed company which gets at least 30 percent of its revenues from outside the US. Once you have the firm picked, you can choose to write the report from one of the following two angles (2-3 pages 500-1000 words): 1. As a new incoming CFO: Here you want to comment on how well the firm is doing dealing with forex exposure. Based on your assessment layout a plan on changes you recommend for the hedging to be more effective. Please go through at least two of the company's most recent annual reports to find information on their forex exposure and hedging practices. Remember losses on forex hedges does not necessarily mean a bad thing, neither do gains of forex hedges always mean a good thing. 2. As an investor looking to either buy or short sell the stock. Here I want you to focus solely on the foreign exchange exposure and its impact on the stock's valuation. You have to identify three things, first, the amount of the various currency exposures the firm has, second, how do you anticipate the underlying currencies to move (you did this in the last exercise), and finally how will the previous two interact to impact the value of the stock