Yesterday, Apple Inc. (Nasdaq: AAPL) reported the most profitable quarter in U.S. history ($18.4 billion in fourth-quarter 2015).
Yes, some sales figures were disappointing – as are the outlooks for the current quarter – but today investors are punishing the stock for what I think is just temporary stalled growth.
I appeared on Fox Business early this morning to discuss the iDevice King’s latest report – and to update my share-price prediction.
But I wasn’t able to share all of my analysis with Fox’s viewers – I saved the best for you.
What I Didn’t Tell TV Watchers
To see what I had to say, just watch the video below.
Now, let’s talk about what a bargain Apple is right now.
It trades at just 9.6 times forward earnings. That means you can buy the world’s most profitable company – and the world’s biggest market-cap company – for 76% less than forward earnings for the S&P 500 Index. And it’s less than one-third that of Alphabet Inc. (Nasdaq: GOOGL).
The company is still growing in China at twice the rate of that country’s GDP growth. And Apple’s “other” category – including the Apple Watch and the new Apple TV set-top box – jumped 62% in the quarter.
Would I like to see a higher stock price? You bet – and like said earlier today, I think we’re going to see $130 by Labor Day 2017.
Put all that together – and Apple remains one of the very best tech investments for the long haul on your road to wealth.