“The battle between iBulls and iBears over the direction of Apple’s stock has been fascinating to watch this year,” Paul R. La Monica reports for CNNMoney. “For most of 2013, the animals of the more ursine variety were trouncing their taurine rivals. But the tables have turned.”
“Apple (AAPL) shares have enjoyed a stellar rally over the past few months, surging nearly 50% from the 52-week lows they hit back in April. Amazingly enough, Apple’s stock is now up 6% year-to-date,” La Monica reports. “And despite the big jump in the stock over the past few months, it’s still cheap. And legitimately cheap. Not cheap in an iPhone-5C-is-cheap-just-because-it’s-not-as-pricey-as-the-5s kind of way. The stock trades for just 13 times fiscal 2014 earnings estimates.”
La Monica writes, “To put that in perspective, Apple is trading at discount to Microsoft (MSFT), which is valued at nearly 15 times fiscal 2014 profit forecasts. Call me crazy. But doesn’t Microsoft’s future look a lot cloudier than Apple’s?”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]