Apple Inc. (NASDAQ: AAPL) shares hit yet another all-time high today. The new high as of 10:00 AM EST is $428.08 ahead of next week’s earnings due on January 24. The prior 52-week trading range was $310.50 to $427.75 and the market cap is roughly $397 billion.
The big question is Apple’s valuation. If Apple only meets the $35.01 EPS target for its fiscal September-2012 year then its forward earnings multiple is only 12.2 and that won’t sound expensive to anyone. Keep in mind that Apple will have likely eclipsed a $100 billion pile of cash at that point.
The company has even been able to fend off all of the labor woes of late and it went as far as to issue its supply chain manufacturers in a highly unusual move.
The consensus price targets have also crept higher as well. The Thomson Reuters data shows a mean target of $509.21 and a median target of $513.00.
JON C. OGG
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