Apple 2004 Annual Report Download - page 25

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PART II
Item 5. Market for the Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
(a)
Stock Market Information
The Company's common stock is traded on the over-the-counter market and is quoted on the NASDAQ National Market under the symbol
AAPL, on the Tokyo Stock Exchange (TSE) under the symbol APPLE, and on the Frankfurt Stock Exchange under the symbol APCD. On
November 17, 2004, the Company filed an application with the TSE to delist the Company's shares from trading on the TSE. As of
November 19, 2004, there were 28,518 shareholders of record.
The Company did not pay cash dividends in either fiscal 2004 or 2003. The Company anticipates that, for the foreseeable future, it will retain
any earnings for use in the operation of its business. The price range per share of common stock presented below represents the highest and
lowest closing prices for the Company's common stock on the NASDAQ National Market during each quarter.
(b) Related Shareholder Matters
None.
(c)
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
Fiscal 2004 price range per common share
$38.01
-
$29.14
$33.70
-
$25.78
$27.68
-
$21.15
$24.82
-
$19.70
Fiscal 2003 price range per common share
$23.10
-
$19.06
$19.29
-
$13.12
$15.27
-
$13.80
$17.22
-
$13.59
Issuer Purchases of Equity Securities
In July 1999, the Company's Board of Directors authorized a plan for the Company to repurchase up to $500 million of its common stock.
During the fourth quarter of 2001, the Company entered into a forward purchase agreement to acquire 1.5 million shares of its common stock in
September of 2003 at an average price of $16.64 per share for a total cost of $25.5 million. In August 2003, the Company settled this agreement
prior to its maturity, at which time the Company's common stock had a fair value of $22.81. Since inception of the stock repurchase plan, the
Company has repurchased a total of 6.55 million shares at a cost of $217 million. The Company was authorized to repurchase up to an additional
$283 million of its common stock as of September 25, 2004. The Company did not repurchase any shares of its common stock during the fourth
quarter of fiscal 2004.
Item 6. Selected Financial Data
The following selected financial information has been derived from the audited consolidated financial statements. The information set forth
below is not necessarily indicative of results of future operations, and should be read in conjunction with Item 7, "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and the consolidated financial statements and related notes thereto included in
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