“Apple entered 2012 as a stock that simply couldn’t rise fast enough to account for its underlying earnings growth. Investors who went missing this year may get a near-identical redo in 2013,” Antoine Gara writes for TheStreet.
“Interestingly, while some tech pundits say the last twelve months were a game changer for the iPhone and iPad maker and are calling for the company’s eventual demise, Apple enters 2013 in a notably similar state as it did in last New Years Eve,” Gara writes.
Gara writes, “Those betting on Apple’s continued earnings growth will have remarkably similar arithmetic underpinning their 2013 investing strategy… Apple entered 2012 with a price-to-earnings ratio of 11.53 and it heads into 2013 at a PE of 11.69, a 1.4% rise over the course of the year. Still, Apple’s stock is up over 25% year-to-date, even after a similar sized selloff from record highs above $700 hit in mid-September.”
Read more in the full article here.