If you adjust for the net cash on hand, the shares are now trading at a hair over 6X consensus estimates for this fiscal year. And even if you write off the cash, it's less than 10X. Amazing. For a business which grew its cash by over 40% last year, and for which one of its key products is in the first inning of the ballgame.
Either Apple will prove to be one of the biggest shooting stars ever (fast and bright and shooting across the sky...only to burn into black nothingness a second later)...or else this is one of the most dramatic undervaluations of any big business I have seen.
(from another board...)
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