8/6/2019 All Eyes on Apple

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July 18, 2011

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All Eyes on Apple

ValuEngine.com Now Rates Apple (AAPL,$AAPL) a 3-Engine "HOLD" 

Apple Computer, Inc. designs, manufactures and markets personal computersand related personal computing and communicating solutions for sale primarily to

education, creative, consumer, and business customers.

We are into earnings season again and some big names report this week. One

company investors keep a particularly close eye on is Apple. Apple has been on a

tear for a long time now, and new highs have been set. It is a bellwether for the techsector. Our models have a hard time quantifying the fundamentals given the fanatic

loyalty of its fan boys and girls and the mystique of the company's many must havegadgets.

ValuEngine has issued a HOLD recommendation for APPLE INC on Jul. 18, 2011.

Based on the information we have gathered and our resulting research, we feel thatAPPLE INC has the probability to ROUGHLY MATCH average market performance for the next year. The company exhibits ATTRACTIVE company size and risk, but

UNATTRACTIVE market/book ratio and price/sales ratio.

Based on available data as of Jul. 18, 2011, we believe that AAPL should be

trading at $390.31. This makes AAPL 6.50% undervalued. Fair Value indicates what webelieve the stock should be trading at today if the stock market were perfectlyefficient and everything traded at its true worth. For AAPL, we base this on actual

earnings per share (EPS) for the previous four quarters of $23.10, forecasted EPS for thenext four quarters of $27.26, and correlations to the 30- year Treasury bond yield of4.25%.

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Technically speaking, our Chief Market Strategist had this to say, "Apple has an

overbought daily chart with an all time high of $365.00 set last Friday, July 15th. Mysemiannual value level is $333.40 with a weekly pivot at $350.60 and monthly risky

level at $375.48."

MARKET OVERVIEW

Summary of VE Stock Universe

Stocks Undervalued 54.40%

Stocks Overvalued 45.60%

Stocks Undervalued by 20% 22.46%

Stocks Overvalued by 20% 16.86%

SECTOR OVERVIEWSector Change MTD YTD Valuation Last 12-

MReturn

P/E

RatioAerospace -0.39% 0.77% 16.52% 0.91% undervalued 29.26% 21.68

Auto-Tires-Trucks 0.35% 0.06% -4.99% 1.57% overvalued 49.55% 24.66

Basic Materials 1.19% 2.09% -3.66% 2.82% undervalued 60.69% 30.45

Business Services 0.29% -1.75% 6.60% 2.00% overvalued 22.44% 24.31

Computer and Technology 0.31% -2.14% 5.86% 3.72% undervalued 32.62% 42.67

Construction -0.21% -0.74% -10.64% 5.76% undervalued 5.37% 39.15

Consumer Discretionary 0.19% -0.75% 3.43% 0.00% overvalued 28.11% 35.53

Consumer Staples 0.52% -0.16% -2.87% 4.55% overvalued 18.37% 28.24

Finance 0.08% -1.80% 1.26% 0.81% undervalued 12.95% 26.97

Industrial Products 0.39% 0.14% 4.34% 1.93% undervalued 39.35% 29.78

Medical -0.13% -0.31% 13.77% 2.26% undervalued 27.75% 32.22

Multi-Sector Conglomerates 0.04% -3.64% 0.10% 4.72% overvalued 30.70% 25.82

Oils-Energy 2.02% 0.24% 0.84% 3.43% overvalued 45.69% 57.64

Retail-Wholesale 0.65% 0.17% 8.29% 0.76% overvalued 33.97% 31.14

Transportation 0.11% -1.65% -6.87% 6.48% overvalued 18.17% 29.41

Utilities 0.37% -1.56% 4.53% 5.81% overvalued 21.77% 28.48