- Apple’s stock has essentially doubled in the last year, giving it a price-to-earnings valuation at the high-end of its recent range.
- But that doesn’t mean it’s overpriced, said Dan Morgan, a senior portfolio manager with Synovus Trust.
- Apple’s stock sold off in late 2018 and early 2019 after its sales plunged in China and overall, but its overall business has stabilized and certain businesses are showing strong growth.
- Plus, compared with those of other tech companies, Apple’s valuation looks modest, Morgan said.
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Dan Morgan realizes there are reasons for investors to be skeptical about Apple.
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