c# - How can I edit the components of an instantiated prefab?

Is it possible to edit one or more components of an instantiated prefab ?

For example if you instantiated five cube prefabs. Is it possible to reference each of the cube prefab and change a value individually ? Such as changing its position or even its scale.

If possible how can it be done ? Another request is, if this can be done. Could it be in the Update() function so when the game is running values can be experimented with.