“Analyst firm Piper Jaffray believes [Apple (AAPL)] stock is actually trading at a discount,” MacNN reports. “‘We believe many investors generally feel that Apple shares have a high relative valuation and, therefore, the Street remains split between those that believe shares deserve to continue to trade at a premium and those that believe shares should trade lower due to declining momentum,’ wrote Piper Jaffray senior analyst Gene Munster in a research report obtained by MacNN. ‘Apple is a unique company in that its business stretches into both hardware and software. As such, we believe a comparative valuation group should consist of Apple’s competitors in both hardware and software.'”
MacNN reports, “The analyst firm also believes the recent settlement between Apple and Creative, which resulted in a one-time $100 million payment to Creative to resolve outstanding lawsuits, is a ‘drop in the bucket’ to relieve possible worries about future injunctions or appeals in court.”
More in the full article here.
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