“It seems that discussions on the merits of Apple Inc.’s stock often degenerate into arguments over the merits of Apple’s portable devices against those that run Google Inc.’s Android operating system,” Philip van Doorn writes for MarketWatch. “But all that has nothing to do with what Apple has accomplished, which is consistently increasing revenue from a loyal following for its products.”
“Apple’s stock was down more than 4% Wednesday, as craven investors sold off their shares following reports that the celebrity photo scandal happened because of a breach in iCloud security. The shares gave up another 1% Thursday,” van Doorn writes. “That seems to have set up a buying opportunity for traders, but even before the drop, the stock was looking like a long-term bargain.”
“The shares closed at $98.12 Thursday and trade for 14 times the consensus 2015 earnings estimate of $7.01 a share, among analysts polled by FactSet,” van Doorn writes. “That is significantly lower than the aggregate forward price-to-earnings ratio of 15.1 for the S&P 500.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Mike” for the heads up.]