“It always amazes me to see that whenever tech giant Apple comes up, analysts go out of their way to “one-up” each other in describing the company. It is as if there are yet things that can be said about the company’s success that has not already been said. That in and of itself demonstrates just how popular the company is — and how through its words or image Apple systematically does things that makes one question his or her own ability to rationalize,” Richard Saintvilus writes for TheStreet.

“The company has become not only the anchor of the stock market, but the beacon of innovation for the world,” Saintvilus writes. “(How’s that for my own “one-upping” attempt?) That it has surpassed Exxon Mobil as the world’s largest company — to the extent that it is now larger than Microsoft, Cisco and Intel combined — leads to the other popular component of any discussion that involves Apple: Its valuation. This is something many investors still do not fully understand. It seems the biggest source of disconnect, continuing due to a lack of appreciation between the difference of price and value.”

Saintvilus writes, “While many are quick to proclaim how expensive the equity is merely by looking at its stock price, I look at that valuation and see an equity trading at a considerable discount relative to its earnings potential. The stock is trading at a forward price-to-earnings ratio of only 10.”

Read more in the full article here.