Is Apple a Screaming Buy Right Now?
For much of 2022, Apple (NASDAQ: AAPL) resisted the market sell-off, but eventually, it succumbed. The tech giant finished the year down 27%, ahead of the Nasdaq but behind the S&P 500.
Despite its retreat, the iPhone maker delivered a better performance than most of its big tech peers, reporting revenue growth of 8% for the quarter and the year, even as it faced stiff headwinds from a stronger dollar. Earnings per share growth was slower, up in the fiscal fourth quarter from $1.24 to $1.29, as the company faced inflationary pressure in areas like wages and logistics.
However, after the sell-off, Apple stock looks surprisingly well priced. It currently trades at a price-to-earnings ratio of 21, the cheapest it has been since the pandemic started, only slightly more expensive than that of the S&P 500 at 20.2.
Source Fool.com
