“I came away from the earnings report convinced that the answer is “a lot,” but I needed to revise my investment case for Apple,” Hibben writes. “”
“The EBITDA profile reflects my expectation that Apple’s margins will not decline very much over the five-year period. The resultant share fair value is $239.89. This gives an upside of about 29% compared to the current share price of about $186,” Hibben writes. “Do I think that the DCF fair value represents the limit of Apple’s growth and upside? I really don’t. I regard it as effectively the lower limit, a floor to growth that investors can have high confidence in.”
Read more in the full article here.
MacDailyNews Take: Yup.
As always, AAPL remains horribly undervalued. — MacDailyNews, May 23, 2018