Verify your data in Research I and complete the remaining data collection in this section.

Finance II: Research Project-Part 1 I. General data (for due date, number of companies to be included and the industry code or list of companies to be considered see the Assignment Box) o Identify the data source and the internet addresses of the data if it is different than the University data base. o Describe the market share of these companies. This by searching the Webpage of the companies Describe the types of services offered to the public o For example the main products and/or services. Identify the goals and strategies of the companies sample (e.g. included in annual reports) o General strategies o Financial objectives II. Specific Data Share prices o Obtain the monthly adjusted share prices at least for the last five years o Calculate returns o Find average, variance, and standard deviation of returns Financial and accounting data (yearly and at least for the last five years) o Total sales o Interest paid o Operating profit o Net income o Cash dividends o Earnings per share o Current assets o Current liabilities o Long term assets o Total assets o Long term liabilities o Total liabilities o Total stockholders' equity III. Announcements: Through announcements obtained from the companies \"Webpages\Finacial Data of Apple Inc 2016 In million Total sales Interest Paid operating profit Net Income Cash dividends Earnings per share Current Assets Current Liabilities Long term Assets Total Assets Long Term Liabilities Total Liabilities Total Stockholder's Equity 215,639 1,456 60,024 45,687 2.18 8.31 106,869 79,006 214,817 321,686 114,431 193,437 128,249 References http://financials.morningstar.com/balance-sheet/bs.html?t=AAPL®ion=usa&culture=en-US http://financials.morningstar.com/ratios/r.html?t=AAPL®ion=usa&culture=en-US Financials data for Sony Corporation In million Total sales Interest Paid operating profit Net Income Cash dividends Earnings per share Current Assets Current Liabilities Long term Assets Total Assets Long Term Liabilities Total Liabilities Total Stockholder's Equity 2016 8105712 25286 294197 147791 19.82 117.49 4196727 4830750 12476663 16673390 9379300 14210050 2463340 http://financials.morningstar.com/balance-sheet/bs.html?t=SNE®ion=usa&culture=en-US http://financials.morningstar.com/balance-sheet/bs.html?t=SNE®ion=usa&culture=en-US 2015 233,715 733 71,230 53,394 1.98 9.22 89,378 89,610 201,101 290,479 90,514 171,124 119,355 2014 2013 2012 182,795 384 52,503 39,510 1.81 6.45 68,531 63,448 163,308 231,839 56,844 120,292 111,547 179,910 136 48,499 37,037 1.63 5.68 73,286 43,658 133,714 207,000 39,793 83,451 123,549 156,508 0 55,241 41,733 0.38 6.31 57,653 38,542 118,411 176,064 19,312 57,854 118,210 2014 7767266 23,460 26,495 -128,369 24.93 -124.99 4,204,886 4,783,614 11,128,834 15,333,720 8,291,969 13,075,583 2,258,137 2013 6800851 26,657 130,100 43,034 26.52 38.79 3,646,533 4,315,089 10,559,759 14,206,292 7,693,437 12,008,526 2,197,766 2012 6493212 23,432 54,422 -456,660 27.56 -453.42 3,754,962 4,529,981 9,540,705 13,295,667 6,736,795 11,266,766 2,028,891 ion=usa&culture=en-US culture=en-US 2015 8215880 23,600 68,548 -125,980 0 -113.04 4,197,901 4,745,590 11,636,430 15,834,331 8,771,664 13,517,254 2,317,077 on=usa&culture=en-US Date 11/1/2016 10/3/2016 9/1/2016 8/1/2016 7/1/2016 6/1/2016 5/2/2016 4/1/2016 3/1/2016 2/1/2016 1/4/2016 12/1/2015 11/2/2015 10/1/2015 9/1/2015 8/3/2015 7/1/2015 6/1/2015 5/1/2015 4/1/2015 3/2/2015 2/2/2015 1/2/2015 12/1/2014 11/3/2014 10/1/2014 9/2/2014 8/1/2014 7/1/2014 6/2/2014 5/1/2014 4/1/2014 3/3/2014 2/3/2014 1/2/2014 12/2/2013 11/1/2013 10/1/2013 9/3/2013 8/1/2013 Open 113.46 112.71 106.14 104.41 95.489998 99.019997 93.970001 108.78 97.650002 96.470001 102.61 118.75 120.8 109.07 110.15 121.5 126.9 130.28 126.1 124.82 129.25 118.05 111.39 118.81 108.22 100.59 103.06 94.900002 93.519997 633.95996 592 537.76001 523.41998 502.61002 555.67999 558 524.02002 478.44998 493.09998 455.74997 High 113.769997 118.690002 116.18 110.230003 104.550003 101.889999 100.730003 112.389999 110.419998 98.889999 105.849998 119.860001 123.82 121.220001 116.889999 122.57 132.970001 131.389999 132.970001 134.539993 130.279999 133.600006 120 119.25 119.75 108.040001 103.739998 102.900002 99.440002 651.26001 644.169983 599.429993 549 551.190002 560.200012 575.140015 558.330017 539.25 507.919983 513.73999 Low 104.08 112.28 102.53 104 94.370003 91.5 89.470001 92.510002 97.419998 92.589996 92.389999 104.82 111 107.31 107.36 92 119.22 124.48 123.36 123.1 121.63 116.08 104.63 106.26 107.72 95.18 96.139999 93.279999 92.57 89.650002 580.33002 511.32999 522.81 499.30002 493.54999 538.79999 512.38001 478.28 447.22 453.25998 Close Volume Adj Close 111.23 37830200 111.23 113.54 33968200 112.96 113.05 47828300 112.473 106.1 28686500 105.558 104.21 35675600 103.119 95.599998 37040500 94.5992 99.860001 44886900 98.8146 93.739998 44806000 92.1973 108.99 35088000 107.196 96.690002 42303900 95.0988 97.339996 70286300 95.2214 105.26 43734700 102.969 118.3 39491000 115.725 119.5 52804000 116.401 110.3 60620000 107.439 112.76 79152700 109.836 121.3 50017800 117.622 125.43 41949200 121.627 130.28 50251800 126.329 125.15 51396700 120.85 124.43 53669600 120.155 128.46001 63081500 124.046 117.16 69419400 112.69 110.38 50681700 106.169 118.93 44485400 114.392 108 61083400 103.431 100.75 75318200 96.4877 102.5 46746200 98.1636 95.599998 49633100 91.1024 92.93 59829300 88.558 633 74996300 86.1743 590.08997 82044000 79.8865 536.73999 61552000 72.6639 526.23999 82267500 71.2424 500.59998 109889900 67.3681 561.02002 86672400 75.499 556.06995 69291000 74.8329 522.69995 88189400 69.9338 476.74997 111138700 63.786 487.22003 94666300 65.1869 7/1/2013 6/3/2013 5/1/2013 4/1/2013 3/1/2013 2/1/2013 1/2/2013 12/3/2012 11/1/2012 10/1/2012 9/4/2012 8/1/2012 7/2/2012 6/1/2012 5/1/2012 4/2/2012 3/1/2012 2/1/2012 1/3/2012 12/1/2011 11/25/2011 402.69 450.72998 444.45999 441.89999 438 459.10999 553.82001 593.65002 598.21997 671.15997 665.76001 615.91003 584.73004 569.15997 584.90002 601.83002 548.16998 458.41 409.39999 382.54001 368.41998 457.339966 454.429993 465.75 445.25 469.949982 484.940002 555 594.590027 603 676.75 705.070007 680.869995 619.869995 590 596.76001 644 621.450012 547.610046 458.240021 409.089996 382.279999 401.22 388.87 418.89999 385.10001 419 437.66 435 501.23001 505.75 587.70001 656 600.25 570 548.5 522.17999 555 516.21997 453.98001 409 377.67999 363.32001 452.52997 396.53 449.73004 442.78 442.66 441.40002 455.48999 532.16998 585.27997 595.32001 667.10004 665.23999 610.76001 584 577.73004 583.97998 599.54999 542.44 456.47998 405 382.19998 77966700 94963100 111725300 132443500 120246400 127191400 160032800 159903000 158585300 150628900 128080400 93636100 111571100 98539600 131795600 201314100 185402000 154007000 90644200 77216600 111806600 60.1484 52.7051 59.7763 58.4655 58.4497 58.2833 59.7953 69.8616 76.8337 77.7964 87.1766 86.9335 79.4729 75.9908 75.175 75.9882 78.0142 70.583 59.3978 52.6991 49.7323 Average Variance Standard deviation Reference http://finance.yahoo.com/quote/AAPL/history?p=AAPL Returns 0 0.01555366 -0.0043156 -0.0614773 -0.0231054 -0.0826216 0.04456071 -0.0669666 0.16268407 -0.1128544 0.00128914 0.08136436 0.12388373 0.00583815 -0.0769874 0.02230282 0.07088882 0.03404779 0.03866695 -0.0433726 -0.0057531 0.03238768 -0.0915503 -0.0578697 0.07745971 -0.0958235 -0.0671296 0.01736972 -0.0719334 -0.0279289 -0.0269173 -0.0729661 -0.09041 -0.0195626 -0.0543832 0.12069514 -0.0088232 -0.0654666 -0.087909 0.02196131 -0.0772923 -0.1237487 0.13416388 -0.0219276 -0.000271 -0.0028464 0.02594201 0.16834612 0.09979897 0.01252957 0.12057386 -0.0027882 -0.0858204 -0.0438142 -0.0107364 0.01081818 0.02666194 -0.0952547 -0.1584693 -0.112776 -0.0562963 -0.0104653 0.0054266 0.07366544 Date Open High Low Close Volume Adj Close 11/1/2016 31.58 31.83 29.15 30.06 1239000 30.06 10/3/2016 32.97 33.67 31.12 31.33 927900 31.33 9/1/2016 32 34.17 31.7 33.21 1009400 33.21 8/1/2016 33 33.7 32 32.16 936000 32.16 7/1/2016 29.17 33.5 29.03 33.41 1545900 33.41 6/1/2016 27.86 29.45 26.84 29.35 1217500 29.35 5/2/2016 24.95 28.11 23.62 27.86 1761300 27.86 4/1/2016 24.77 28.17 23.95 24.1 2001400 24.1 3/1/2016 21.29 26.49 21.24 25.72 1483200 25.72 2/1/2016 23.24 23.33 20.11 21.12 1412900 21.12 1/4/2016 24.45 25.72 19.9 23.88 2688300 23.88 12/1/2015 26.2 26.36 23.97 24.61 1202300 24.61 11/2/2015 28.54 29.08 25.83 25.92 739100 25.92 10/1/2015 24.8 29.08 24.53 28.4 1130300 28.4 9/1/2015 25.13 26.86 23.26 24.5 1536600 24.5 8/3/2015 27.91 27.98 21.51 25.78 1284200 25.78 7/1/2015 28.47 29.99 26.77 28.35 1940500 28.35 6/1/2015 30.86 31.7 28.32 28.39 1246300 28.39 5/1/2015 30.31 32.95 29.77 30.92 1514200 30.92 4/1/2015 27.46 32.6 27 30.23 2265500 30.23 3/2/2015 27.95 28.3 25.68 26.78 1534000 26.78 2/2/2015 22.96 28.65 22.91 28.32 2619000 28.32 1/2/2015 20.47 23.91 20.15 23.29 2431300 23.29 12/1/2014 22.25 22.32 19.71 20.47 2239900 20.47 11/3/2014 19.64 22.05 19.52 21.99 2991700 21.99 10/1/2014 17.89 19.9 16.57 19.82 2966800 19.82 9/2/2014 19.32 20.35 17.22 18.04 3786800 18.04 8/1/2014 18.07 19.18 17.16 19.11 2210600 19.11 7/1/2014 16.86 19.11 16.43 18.43 2742300 18.43 6/2/2014 16.31 17.01 15.96 16.77 2540100 16.77 5/1/2014 16.85 17.73 15.93 16.18 2657500 16.18 4/1/2014 19.42 19.46 17.46 17.64 1551400 17.64 3/3/2014 17.2 19.25 16.92 19.12 2474600 19.12 2/3/2014 15.6 17.66 15.23 17.55 3293000 17.55 1/2/2014 17.33 18.32 15.55 15.75 3529000 15.75 12/2/2013 18.49 18.75 17.03 17.29 1946800 17.29 11/1/2013 17.01 19.16 16.52 18.3 3836100 18.3 10/1/2013 21.38 21.5 16.66 17.25 3142900 17.25 9/3/2013 20.4 21.94 20.36 21.52 2255600 21.52 8/1/2013 21.93 22.25 19.53 19.96 2296500 19.96 7/1/2013 21.5 23.1 20.72 21.04 2419800 21.04 6/3/2013 5/1/2013 4/1/2013 3/1/2013 2/1/2013 1/2/2013 12/3/2012 11/1/2012 10/1/2012 9/4/2012 8/1/2012 7/2/2012 6/1/2012 5/1/2012 4/2/2012 3/1/2012 2/1/2012 1/3/2012 12/1/2011 11/25/2011 19.4 16.27 16.87 14.98 14.71 11.46 9.72 11.69 11.86 11.33 12.11 14.18 12.75 15.85 20.56 21.49 18.06 18.28 17.98 17.15 21.6 23.38 17.51 18.06 15.93 15.49 11.3 11.97 12.4 13.6 12.4 14.31 14.47 16.07 20.83 22.05 22.35 18.75 18.61 18.2 18.59 16.2 16.09 14.85 13.75 10.59 9.57 9.59 11.3 11.02 10.91 11.21 12.63 12.97 16.11 20.01 16.85 16.75 16.67 16.96 21.19 20.15 16.43 17.4 14.58 14.94 11.2 9.74 11.74 11.7 11.31 12.15 14.24 13.24 16.21 20.77 21.39 18.22 18.04 18.05 4779600 7785000 2818300 3973100 3874600 5321400 2277700 2877900 1560200 2539900 1823800 1461400 1736800 2081800 2090400 1395800 1848000 1066400 1347600 2471300 21.19 20.15 16.43 17.4 14.58 14.94 11.2 9.74 11.74 11.7 11.31 12.15 14.24 13.24 16.21 20.77 21.39 18.22 18.04 18.05 Average Variance Standard deviation Reference http://finance.yahoo.com/quote/SNE/history?period1=1322159400&period2=1480012200&interv Returns 0 0.042 0.060 -0.032 0.039 -0.122 -0.051 -0.135 0.067 -0.179 0.131 0.031 0.053 0.096 -0.137 0.052 0.100 0.001 0.089 -0.022 -0.114 0.058 -0.178 -0.121 0.074 -0.099 -0.090 0.059 -0.036 -0.090 -0.035 0.090 0.084 -0.082 -0.103 0.098 0.058 -0.057 0.248 -0.072 0.054 0.007 -0.049 -0.185 0.059 -0.162 0.025 -0.250 -0.130 0.205 -0.003 -0.033 0.074 0.172 -0.070 0.224 0.281 0.030 -0.148 -0.010 0.001 -0.00218057 0.012713272 0.112753147 00&period2=1480012200&interval=1mo&filter=history&frequency=1mo Finance 21 Financial Information about Apple Inc and Sony Corporation Apple Inc The main products and services of the company The company engages in designing, manufacturing, and marketing mobile communication, media devices, personal computers, and portable digital music players. Apart from these products, it deals with variety of other products like soft ware, accessories, networking solutions, and services. It is a global company having business in all over the world. It operates its business in America, the Greater China, Europe, Japan, and Asia-Pacific. The Products of Apple Inc are iPad, iPhone, iPod, Mac, iCloud and Apple Pay. The company sells its product through retail stores, on-line stores and through direct sales force. The customers of the company comprise the government, educational enterprises, small and medium businesses. Market share of Apple Inc The company faces aggressive competition for its products and services due to the rapid technological advancement and the frequent product introduction in mobile phones and computers. This aggressive competition and price-cutting result to lower profit margins. The price cut for the product is essential for the company for having market sustainability. The company is having minority market share in personal computer and smart phone markets. Financial Objectives and Strategies The objectives of the Apple Inc are: Increasing the net margin for the benefit of shareholders Gaining market share Finance 22 Expanding the customer base through retail stores, on- line stores and direct contact with buyers through sales force Constant innovation of product to suit the customers tastes through research and development General Strategy The company commits to bring user-friendly products for the benefit of customers. Consistent research, development, and constant innovation would enable the company to bring high quality product to suit the customer's needs and preferences. The company is having its own retail and on-line stores and developed its own distribution network in order to provide effective service to the customers. The company thrives to provide high quality sales and post sales services to its clients. Sony Corporation The main product and services of the company The product and services of Sony Corporation are audio, video, imaging game, communications, key device and information technology products. These products and services cater to the needs of ordinary consumers and professionals and it is the leading manufacturer of these above products. It is a leading electronic and entertainment company in the world, generating a consolidated income of $7.2 billion in the fiscal year ending March 31, 2016. Finance 23 There are four classifications of company's product and services and they are electronics, music, motion pictures and financial services. Initially, the company was established in Japan in the year 1946 and in the year 1970, the business conglomerate incorporate Sony America. Market share Just like Apple Inc, Sony Corporation also faces intense and aggressive competition from various competitors of the world. It successfully competes and retains the majority share of the market in all the products lines it deals with; however, the strength of its position differs from product to product. Objectives of the company The main objective of the company is it's commitment towards the society. The concept of the company is, 'environmental vision towards the sustainability', and the company's objective is to give to its customer high quality products and services. The company, on realizing the importance of corporate social responsibility and measures for environmental protection, adopts a new strategy of combining the ecology and economy in the management policy. It focuses on product development, product performance and services with the objectivity of sustainability. It gives more importance for environment protection and insists on zero omission in the manufacturing sites. The company insists transparency in all its financial transaction and focuses on the health and safety of its workers working in the organization. Strategy Finance 24 Sony adopts different strategies in four segments of its operations. It follows competitive price strategy in electronic segment as it faces intense competition in the world. Game industry is a highly volatile segment that needs constant innovation and introduction of frequently new product to suit the consumer's tastes and preferences. The financial service segments consist of Sony Life, Sony Assurances and Sony Bank and operate upon healthy financial foundation and diversifying the customer needs. Finance 25 References http://investor.apple.com/secfiling.cfm?filingid=1193125-15-356351&cik= http://www.marketwatch.com/investing/stock/aapl/profile http://www.marketwatch.com/investing/stock/aapl/profile https://www.sec.gov/Archives/edgar/data/313838/000114554907001097/k01348e20vf.htm Finance 26