The global frenzy for Apple products show no signs of letting up. This is the best company in the world and not just a game changer, but defining the culture for younger generations. The stock has been trading in $300-320 range for the past few months with a couple of failed attempts at breaking out. It does feel like a coiled spring to us and we suspect that we’ll see $333 relatively soon.
Adjusting for the company’s $51 BN in cash and investments, the stock trades at 14x this year and 11.5x next year’s earnings. Stunningly cheap for the best growth story in the market! Stay tuned.