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Apple's (AAPL) Eco-friendly Headquarters to Open in April

Zacks Equity Research
Updated

After massive delays and cost escalations, Apple Inc. AAPL has finally announced that its new headquarters named Apple Park will be ready by April this year.

Per the press release, Apple Park will be powered entirely by renewable energy and will need no artificial heating/air conditioning for a major part of the year. The solar panels installed in the Park are expected to generate 17 megawatts of power. The building will have natural ventilation.

In 2011, Apple co-founder Steve Jobs had envisioned Apple’s futuristic design headquarters. CEO Tim Cook said “Steve’s vision for Apple stretched far beyond his time with us. He intended Apple Park to be the home of innovation for generations to come. The workspaces and parklands are designed to inspire our team as well as benefit the environment. We’ve achieved one of the most energy-efficient buildings in the world and the campus will run entirely on renewable energy.”

Apple Park is spread across 175 acres of land in Santa Clara valley. The Park’s main building is ring shaped (likened to a spaceship widely) and about 2.8 million square feet in area. Apple claims that that building is “clad entirely in the world’s largest panels of curved glass.” Apple Park also has a 1000-seat auditorium, which will be named after Jobs who died in 2011 after a long battle with pancreatic cancer.

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Apple said that it will start moving its employees from April and will take about half a year to completely move 12K of the company’s employees to the new headquarters. Like many other campuses, Apple Park will feature cafes and a fitness center.

Apple Inc. Price

Apple Inc. Price | Apple Inc. Quote

Reportedly, Apple Park was designed by Apple's design chief Sir Jony Ive in partnership with architecture firm Foster + Partners and built for an estimated cost of $5 billion.

Apple’s Go Green Initiatives

Apple is one of the many big companies that took up climate change issues head on. Cook had earlier commented “Climate change is one of the great challenges of our time, and the time for action is now. The transition to a new green economy requires innovation, ambition and purpose. We believe passionately in leaving the world better than we found it and hope that many other suppliers, partners and other companies join us in this important effort.”

In fact, Apple meets 93% of its energy requirements via renewable energy facilities across the globe as per its 2016 Environmental Responsibility Report.

It has been aggressively investing to source renewable energy for its operations. The company has set an ambitious target to fuel 100% of its global energy needs, including supply chain, solely through renewable resources like solar, geothermal & wind power, biogas and hydro power. As per sources, Apple’s supply chain needs over an estimated 60 times more energy than its own facilities.

Apple states that it has gone 100% green in 23 countries including China, Germany and Singapore. Plus, all of Apple’s data centers are running on clean energy. It uses entirely recycled/sustainable paper for 99% of its packaging.

Undoubtedly, going green will help big companies to save on costs while helping to protect the environment at the same time.

Zacks Rank and Share Price Movement

At present, Apple has a Zacks Rank #3 (Hold). Apple’s shares have marginally outperformed the broader market over the past one year. Shares of Apple have registered growth of 44.74%, compared with the Zacks Computer Mini industry’s gain of 43.53%.

Stocks to Consider

Better-ranked stocks in the wider technology space are Texas instruments Inc. TXN, MeetMe Inc MEET and Netflix Inc. NFLX. Texas Instruments sports a Zacks Rank #1 (Strong Buy) while MeetMe and Netflix carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

In the trailing four quarters, Texas Instruments, MeetMe and Netflix recorded a positive average earnings surprise of 7.09%, 36.07% and 141.35%, respectively.


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Netflix, Inc. (NFLX): Free Stock Analysis Report
 
Apple Inc. (AAPL): Free Stock Analysis Report
 
Texas Instruments Incorporated (TXN): Free Stock Analysis Report
 
MeetMe, Inc. (MEET): Free Stock Analysis Report
 
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