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Technology Stocks : Apple Inc.

AAPL 273.85

+0.5%

Dec 24 12:59 PM EST

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From: Moonray	2/24/2014 9:08:37 AM
	of 213177

Apple's Prognosis: Range-Bound Apple ( AAPL) became the largest holding in my portfolio this summer when the shares fell to under $400 a share. I added to my original position as the stock had become deeply undervalued. In the succeeding six months, the stock rewarded my faith significantly by advancing some 40%. The rise was powered by the release of new versions of the iPhone and iPad as well as signing two significant carriers (China Mobile ( CHL) & NTT Docomo ( NTT)). I miss those days. Apple is still a good value at ~13x this year's expected earnings, a discount to overall market multiple (~15x). The tech company also should see revenues increases in the 5% to 7% range this year, above the 4% sales increase expected for the S&P 500 in 2014. This does not take into account the ~$160B the company has in net cash and marketable securities or its 2.2% dividend yield. However, the shares are not even close to how cheap they were at $400 a share when they were selling at single digit price earnings ratios even including cash. For the last three months, the shares have been fairly range bound (See Chart). More at: seekingalpha.com o~~~ O

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