Apple now trading at 12.9 times Deagol’s fwd EPS estimate (10.5x after excluding cash).
Deagol’s AAPL Model: Fiscal 1Q 2011 Final Estimates.
The revenue growth rate is expected to continue at 66% (following 61% and 67% for previous two quarters). Earnings growth is also expected to be maintained at 70% as it has been over the full calendar year.
Apple continues to be one of the cheapest stocks in the S&P 500 when measured by growth multiples.
After years spent thinking about it, I can only conclude that the company’s depressed valuation is due to the uncertainty surrounding the CEO succession plans.