“Apple (AAPL) has been on a tear for the last 5 years with the stock up approximately 450% compared to the 17% increase in the broader Nasdaq index,” Nadeem Moulvi writes for Seeking Alpha.
“Apple has been posting all-time highs on a daily basis and, in the process, has become the world’s largest company by market capitalization, bypassing Exxon Mobil (XOM),” Moulvi writes. “Trading at $463.97, AAPL has a market capitalization of $432.59 billion. By my estimation, Apple will become the first trillion dollar company in the next 36 months. At current levels, the stock trades at a significant discount to its intrinsic value.”
Moulvi writes, “Apple is expected to be trading at $1,200 a share 3 years in the future. Assuming 950 million shares outstanding, the company is projected to have a market capitalization of $1.14 trillion making it the first trillion dollar company on the planet. At current levels, although hard to believe, Apple is grossly mispriced by the market and is a bargain.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]