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.