Apple’s stock is trading as if it just reinvented the wheel — or, you know, dropped its first iPhone. But let’s be real: not many were camping outside stores for the iPhone 16.
Apple’s trading at 32 times forward earnings, almost within kissing distance of the 34x it hit in 2008, back when the first iPhone was fresh off the assembly line. Even crazier? Its valuation now outpaces the entire S&P 500 information tech sector, which sits at a modest 24x.
Expensive much? Maybe. But Bank of America says it’s fair game. The bank thinks the premium price tag makes sense, citing a multi-year upgrade cycle and Apple’s colossal cash stash among other factors.
Can the iPhone 17 even live up to this valuation? Oh wait… that’s not even coming until next September. 🤔
