Every week now, it seems like Apple (NASDAQ:AAPL) is breaking another milestone.
Just a few weeks ago, the stock made headlines by breaking through $500, and already on Thursday it briefly touched $600. The tech giant’s market capitalization now tops $545 billion, making Apple the largest U.S. company on the market. Back in February, analysts were astounded by this: If Apple were a country, it would be the 25th-largest economy in the world.
Many thought that Apple couldn’t go any further, that institutions would pull back and take in profits while the going was good.
However, Apple proved that it had plenty of upside left. Since Feb. 13, the stock has jumped an additional 20%. Reaching back just to the beginning of 2012, the stock has surged nearly 50%!
But the best part is that Apple still isn’t overvalued. In fact, the stock is trading at just 14 times its expected earnings for the next year. This is in line with the industry average and is actually less than the Nasdaq’s price-earnings ratio.
One reason that investors love Apple to the tune of $500, even $600, is that it consistently translates its popularity into products. And when the new iPad becomes available today, I fully expect the company to turn a profit on an even greater scale than with its past tablets.
Analysts and consumer alike are buzzing about the new iPad, and the expectations are for nothing less than a feeding frenzy as it hits the shelves.
So, if you have been a buyer of APPL, congratulations! I’ll check in on this stock from time to time, but a great way to keep your own tabs on Apple’s prospects is by reviewing it regularly through
