The trailing PE is at 19. Forward PE is at 15.
Considering unit sales figures, and financial numbers Apple is producing, I truly think that is all that needs to be said. But there is more, the technical set up is very interesting right now. AAPL is consolidated, inexpensive and technically sound.
The trends are intact via the longer-term SMA and the short-term SMAs are swooshing upward or on the verge of.
This set up, including PE value, is very reminiscent of a few months back. At the time I got very bullish on AAPL and posted it. (post 1 and post 2)
My previous posts did not include the 90SMA in the chart, so here is what it would have looked like.
The set up in this chart (focus on Feb to March) was a bit more adventurous, but the similarities remain via the area on consolidation and PE level. The most striking part, was after the consolidation. The rally kept going north of 240, obviously.
Here we are with AAPL around 250 with very similar conditions, if not better prospects of future growth with the iPad and iPhone 4 announced, and I obviously have a very similar bullishness.