“Helpfully, the financial page of The New Yorker magazine this week offers several,” Gill writes. “A piece by James Surowiecki quite elegantly disses Apple bashers, offering reminders that the investment community has underestimated this company before.”
Gill writes, “We at YCharts thought we’d offer an illustrated version.”
Read, and see, more in the full article here.
James Surowiecki writes for The New Yorker, “The company’s fundamentals are simply too good to justify panic. Its cash hoard is bigger than the market cap of almost every company in the S. & P. 500. It makes the world’s two best-selling phones. The U.S. market may be maturing, but it’s still immensely lucrative and far from tapped out, and Apple is the market leader in both smartphones and tablets. It’s also by far the biggest maker of tablets worldwide. Unlike its competitors, it also does an exceptionally good job of turning sales into profits: in 2012, according to one study, Apple accounted for sixty-nine per cent of all profits in the world mobile-phone market. That doesn’t sound like a company whose stock deserves to trade at a price-to-earnings ratio well below the market average.”
Much more in the full article here.