As hard as it is to believe, White notes that Apple is one of the most undervalued companies trading in the U.S. markets. As an example, White points to Apple's 16:9 ratio. No folks, that is not the 16:9 aspect ratio of the iPhone's screen. That is the company's Price-Earnings ratio which means that for every $1 per share in net earnings, Apple's stock price is worth $16.90. Similar companies are more expensive. Firms like Google (31), Amazon (183), and Microsoft (30) are trading at rates nearly twice as expensive as Apple's PE ratio.
White says that Apple made a bottom last May and he predicts it will reach $202 over the next 12 months. With 5.4 billion shares outstanding, Apple needs to hit $185 in order to reach the magical $1 trillion mark. And with a new premium priced iPhone on the way along with the Apple Home Pod launching in December, there is a very good chance that investors will respond favorably enough to these devices that before the end of this year, the company will have a valuation that starts with a "T" for trillion.
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