Average investors are looking at Apple as a stock worth investing in, assuming you consider professional wrestling champions average. John Bradshaw Layfield writing for The Street recently shared his views on why Apple is a good investment. He notes that Steve Jobs is an innovator and has revolutionized the consumer electronics industry.
After Apple dropped about 20 percent from its high of US$86, Mr. Layfield observes, it became a buying opportunity. He feels it is likely to hit $90 based on historic trends and the fact that Apple has traditionally traded at three to four times enterprise value to sales. Also, the company has no debt and over $10 per share in cash. In Mr. Layfieldis eyes, that makes it a dream company.
Looking forward, he sees growth days ahead for Apple. The iPod will continue to drive sales, and new models with improved video capabilities will revolutionize the way consumers view content.
Apple is currently trading at $70.05 in the pre-market, up 0.26 (0.37%).
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