“It’s happened again: The stock of the most beloved company in the world, Apple (AAPL), has dropped more than a third off its highs. Of course this means that no one likes it anymore,” Henry Blodget writes for SIlicon Alley Insider.
“Well, wake up, people! If you really think that Apple’s going to take over the world, this is the time to love the stock, not when it claws its way back toward $200 again,” Blodget writes.
“Apple’s stock just isn’t that expensive anymore. At $127, the stock is trading at about 25X trailing earnings (that’s trailing, not analysts’ hallucinations about what is going to happen over the next few years),” Blodget writes.
Full article here.