Hi Everyone,

For this months Club Meeting Meeting Educational topic, we discussed
following a stock. We talked about how we make judgments about sales
growth and net margin when we purchase a stock. Each time its
quarterly earnings are released, we want to review how they compare to
our judgments.

For those of you looking for a fun activity for your club meetings, I
was thinking that it might be interesting to try using your judgments
to project the next quarterly earnings for a company that your club
owns. Perhaps you could even make it a little contest to see how
close you get to what actually gets reported.

In that light, Apple is releasing it's 4th quarter earnings on
Monday. I'm sure any of you who own the stock are pretty happy as of
yesterday. The price closed at an all time high.

Would anybody like to guess what the earnings might be? I've
attached a little spreadsheet you can play with to help you make your
projection. I've put some historical data in the spreadsheet. You
can find lots more in the investor relations section of the Apple
website https://www.apple.com/investor/

We'd love to hear what you come up with and why you've chosen the
judgment numbers you've used.

--
Laurie Frederiksen
Invest with your friends!
www.bivio.com

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