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 13x last year’s earnings and at
only 10.56x 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.