Apple\'s stock \"strong\"

Apple's stock was dubbed strong by Dan Sullivan, editor of The Chartist, because it for the past year. The company's stock is up 119.6 percent over the last 12 months. Last November Apple held its gains after a more than 100 percent run in the previous 12 months, and rallied with the market in the fourth quarter of 2004, according to a report from Forbes.com. The company climbed up to $45 in February, slipped down in April and May of 2005, and then retook its 50-day average in July. Apple began hitting new highs again in August, and earned $1.43 billion on sales of $13.93 billion in the past four quarters, according to the report. Revenue in the most recent quarter surged 56.5 percent, while earnings per share of $1.56 were 305 percent higher than the same quarter last year. "Apple has a market capitalization of $47 billion, zero debt and $9.95 per share in cash on the books. It currently trades for 37 times trailing earnings and 32.3 times analysts’ estimates of $1.78 per share in earnings for the year ended September 2006."

by MacNN Staff