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 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.

Thursday, 17 May 2012

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