Apple (NASDAQ:AAPL) is the $600 gorilla of Wall Street that dares you to bet against it.
It has a forward P/E of 11.2 based on 2013 earnings. It just announced a massive dividend and buyback plan worth $10 billion. It is surely going to launch another impressive iteration of the iPhone this summer as the device celebrates its fifth birthday and utter dominance over the competition, and there are rumors of a $299 iPad mini that will debut before Christmas to completely squash the Amazon (NASDAQ:AMZN) Kindle and give Apple a strangehold on the tablet market.
And then there are the great earnings and great history of share appreciation – the stock is up 70% or so in the last 12 months, and 300% in the last three years. If you want proof that expensive stocks can serve you well, look no further than Apple. But if you’re looking to get in, then circle Tuesday, July 24, on your calendar, when Apple’s earnings report is expected to thrill Wall Street. (Disclaimer: I personally own shares of Apple).