Stocks rebounding but rates still around 8-month lows!
If they had fallen today I was going to buy AAPL. Adjusting for their cash horde their PE is about 8! Still cheap after today’s 5% gain, but I think there will likely be a better entry point in the next month or two.
They do have a problem with phones not getting better anymore and upgrade cycles going from about 2 years to 3 or 4 years. I think they made a mistake not getting into premium TV sets a few years ago. Now TVs are getting cheap and are no longer the opportunity of 5-10 years ago.
Nonetheless, iphone/ipad/macbook will still be a cash cow if a declining one, and there could be some upside if they enter new markets.
