Expect Apple To Surge In Coming Months
by Loungin
Fundamentals:
Since mid 2011 Apple (AAPL) has established a new TTM P/E multiple trading range of approximately 14-16x earnings with an average of 14.83 over the past 12 months. In the past 437 trading days the stock has only been under a 14.0x TTM P/E multiple for 75 days (including the current streak of 4). The longest streak under the 14.0x P/E mark was in January 2012 and May 2012 and was 17 trading days in both cases. The big January decline was due to the EPS blowout and it took the market a couple weeks to re-establish the range by running the stock price up. 14x the current P/E of 44.15 would be $618 a share, so I expect the stock to recover to the 620 range relatively quickly. read more »
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