“With so many high profile, widely-owned institutional stocks struggling, it should not be a surprise that the biggest fish of them all, Apple… has stumbled,” William Koldus writes for Seeking Alpha. “Shares are down 13% YTD as earnings growth and forward expectations have both disappointed investors. Additionally, it is likely that institutional holders have sold Apple shares for liquidity as their other top holdings have struggled.”
“The end result has been a further sell-off in AAPL shares. The selling pressure, which began all the way back in April of 2015, has gained steam on the downside in 2016, bringing shares of the iconic firm to ten-year valuation lows and creating a potential long opportunity for contrarian investors,” Koldus writes. “The trailing-twelve-months price-to-earnings (P/E) ratio of 10.3 is Apple’s cheapest from 2006 to 2015, with 2012’s P/E ratio of 12.1 and 2015’s P/E ratio of 11.4 the only close readings.”
“On a relative basis versus the S&P 500 Index, and compared to their prior lows, all valuation ratios are making new lows,” Koldus writes. “Thus, Apple shares are undoubtedly selling at their cheapest valuations in ten years.”
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MacDailyNews Take: These are Crazy Eddie prices! His prices are Insaaane!