“Apple (AAPL) is unique among America’s mega caps due to the company’s ongoing rates of revenue and earnings growth,” Posts At Eventide writes for Seeking Alpha. “From $108.25 billion in revenue reported in the fiscal year ended in September, Apple will surpass $170 billion in revenue this fiscal year and reach over one-quarter trillion dollars in revenue in FY2013. At a current market cap of $375 billion, the shares trade at about 14.5 times trailing twelve month earnings of $27.68 per share and at about 8.75 times my projected FY2012 earnings of $46 per share.”
“Because of the company’s frenetic rates of revenue and earnings growth, Apple is in an equity class all its own,” Posts At Eventide writes. “Apple will deliver a third consecutive fiscal year of revenue growth above 50% and eps growth above 60%. This fiscal year’s strong performance begins with what I call ‘Apple’s monster quarter.'”
Posts At Eventide writes, “I maintain a $640 price target on the shares. A recovery to a trading range between 16 times and 18 times trailing 12-month earnings will occur early in 2012 following the results from “Apple’s monster quarter” and the significant analyst upgrades to revenue and earnings estimates that will follow.”
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