$Apple(AAPL)$
Why should financial engineering such as oversized buybacks be justification for an irrational multiple relative to earnings and earnings growth forecasts? Who can provide justification for a stock price move from $165 to current levels where AAPL shows no meaningful earnings growth?
Don’t earnings and earnings growth prospects ultimately matter in determining reasonableness of a stock price?
PS: I am not short the stock but do hold some put ratio spreads for 8/2 to reflect 8/1 earnings report on a small out of pocket cost basis. Good luck to all but be careful.
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