Ahead of the iPhone X Launch, Apple Stock Isn't the Bargain It Once Was

Ahead of Apple's (NASDAQ: AAPL) event on Tuesday morning, the tech giant's underlying financials haven't changed much over the past few years. Indeed, its trailing-12-month revenue and earnings per share are both down about 4% from where they were by the end of Apple's fiscal 2015.

Yet investors seem exceptionally excited about Apple stock lately. It has been hitting new highs in recent weeks, and it's up about 35% since the company reported its fourth-quarter results for fiscal 2015. During this same period, the S&P 500 climbed just 19%. Furthermore, thanks to the stock's pullback last year, the stock is up nearly 57% in the past 12 months.

Source: Fool.com