Examining Apple's Low P/E And How It Could Go Higher

Apple has strengthened its position as the world's most valuable company, with its stock price rising by close to 40% over the last 12 months. Its $730 billion market cap now stands at about twice as much as the next biggest company, and accounts for close to 4% of the S&P 500. However, despite the strong growth and track record of beating expectations, the market assigns Apple?s stock P/E multiple of just 14x FY 2015 earnings (still lower ex-cash), while the broader S&P 500 trades at about 17x ...