Is Apple Stock Suddenly a Great Buy? A Wonky Stat Provides an Answer

This Wednesday, CEO Tim Cook announced that Apple’s fourth quarter revenues would fall far short of his previous forecast––chiefly because of flagging sales in China. Predictably, the iPhone-maker’s shares tanked the next day, swamping all the major indexes in its mighty wake. Since its peak in early October, Apple has shed $390 billion in market capitalization, or 36% of its value. That means the former trillion-dollar behemoth, which Wall Street almost universally praised as fully deserving to reach that milestone, would now need to see its shares climb 52% to regain that 13-figure status.

Even at its apex, Apple (aapl, +4.14%) was lauded as a great value stock, boasting a modest price-to-earnings valuation and a history of big stock buybacks. Now that it’s more than one-third cheaper, you’d think Apple would qualify as a screaming buy.

 

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http://fortune.com/2019/01/04/apple-stock-warning-buy/

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