New report finds Apple stock is 'cheap' relative to broader market and its peers (via CNBCFuturesNow)
The Bespoke Investment Group's Paul Hickey compared P/E ratios of S&P 500 components to Apple." When you look at Apple, it's cheap relative to the broader market," the firm's co-founder said Friday on CNBC's "In a special chart, Hickey shows Apple is well below average in relation to the current multiple of every S&P 500 stock.
And, it's not just the overall market. According to Hickey, the iPhone maker also trades at a 25% discount to the average technology stock. Plus, his report found Apple is trading at a "big discount" to the average consumer product stock. It's a pertinent data point as more investors, as well as CEO Tim Cook, sees it more as a consumer product company.
"You could just compare Apple to any other sector, and it's trading at a cheaper multiple," he added. "Even mega caps in the
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple and SAP have expanded their partnership and are now targeting Microsoft's sweet spotApple and SAP have expanded their partnership in a play to undermine the dominance of Microsoft Windows in the workplace
Read more »
Apple chip supplier says China's smartphone market is picking upDialog Semiconductor CEO Jalal Bagherli expressed optimism in his outlook for the Chinese mobile phone market.
Read more »
How the Apple store has fallen from graceBuying from an Apple store 'used to be a revered thing,' a customer said. 'Now you don’t want to bother with the inconvenience.'
Read more »
The Oath with Chuck Rosenberg on Apple PodcastsListen to this week’s episode of TheOath with Chuck Rosenberg featuring fmr. FBI Deputy Director Andrew McCabe:
Read more »
Former Apple engineers create a smart camera system to stamp out manufacturing defects in gadgetsStart-up Instrumental, founded by two ex-Apple engineers, is trying to automate solutions to manufacturing defects.
Read more »
Apple Is Caught in the Middle of the Trade War With ChinaMorgan Stanley analyst Katy Huberty concluded that tariffs would raise the cost of an iPhone XS by some $160, significantly raise Apple’s cost of goods sold, and ultimately slice 24% off its fiscal 2020 EPS forecast of $12.67.
Read more »
Stocks making the biggest moves midday: Uber, Apple, Lyft, Caterpillar & moreThese are the stocks posting the largest moves in midday trade.
Read more »
Apple shares drop 7% this week on fears China trade turmoil threatens iPhone growth plansApple shares have slid steadily amid tumultuous U.S. trade negotiations with China, as investors fear CEO Tim Cook's warning earlier this year about iPhone sales in China may yet come true.
Read more »