Looking for a good stock for investing? Consider these facts.
(Reuters) – Apple Inc’s results smashed Wall Street’s expectations after iPhone and Mac sales scaled new heights while iPad supplies could not keep up with roaring global demand.
“We sold every iPad 2 we could make and the demand was stunning,” Apple Chief Financial Officer Peter Oppenheimer told Reuters in an interview.
The company’s stock — which is trading at roughly 18 times forward earnings, versus 19 times for Google and 10 times for Microsoft — is considered a must-have in any technology portfolio.
Apple’s I series of products have not been duplicated by any other company. Morningstar’s listing of competitors are: Hewlett-Packard Company, Sony Corporation ADR, Microsoft Corporation, Dell Inc. All of these companies have worthwhile products. None of these companies offers a similar product line.
iPad Competitors? The Motorola Xoom launched to sales that were okay but not breakthrough, the BlackBerry Playbook has gotten hopeful though mixed reviews. There is also the HP TouchPad, as well as Android Honeycomb tablets by manufacturers such as Toshiba and Motorola that have not yet been well reviewed. The Samsung Galaxy Tab has received an excellent rating by Consumers Reports.
Although I am not a fan of Apple products, Morningstar predicts a “$475 fair value estimate.” Today’s stock price is in the $350 to $352 range.
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