Apple Is Still A Bargain, Likely Headed Past $500


Apple (AAPL) continues to churn out impressive results blowing away all estimates with their Q1, FY2012 earnings announcement.  We are not going to focus on the quarter’s earnings but whether Apple’s performance justifies a higher valuation.

The stock is being driven by the steep increase in iPhone and iPad sales.  The stock can continue its steep rise if the eps growth rate remains in double digits, although this will be dependent on the iPhone and iPad markets going forward.

A key question is whether the iPhone market is starting to mature or is there continued growth ahead?  We’ve put together a market projection based on a recent interview with Kulbinder Garcha – Credit Suisse and a Gartner market projection. …

….Click Here to Read the Full Article at SA…

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