$Apple(AAPL)$ using p/e to value apple misses apple's true value which is its 1.5B fiercely loyal users w/a 99% satisfaction rating who can't wait to buy apple's next premium-priced product. that gives apple unmatched PRICING POWER which is why apple is the most profitable, largest cash producing biz ever.
buffett: “The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business".
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