Bullish Cross Initiates Rare Buy Rating on Apple

Andy Zaky:

Now here are the reasons why we believe its time to buy Apple and why we feel the valuation is incredibly attractive today. At $533.52 a share, Apple trades at 13× last year’s earnings and at only 10.56× our expect October earnings. Those are incredibly low valuations even for Apple. At the November 25, 2011 lows, Apple traded at a 13.13 P/E ratio. So today, Apple is trading at a lower valuation than it was at the November lows. At the June 2011 lows, Apple was trading near a 15 P/E trailing P/E ratio.

This is only the fifth time Zaky has issued a buy on Apple. He’s four-for-four.

Thursday, 17 May 2012

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