Apple Stock Soars After Hours After Beating the Street
Apple handedly beat the street today on their earnings announcement. Their profits soared 50% on iPhone and iPad sales. Watch for this trend to continue as they continue to have stellar, leading products. Also watch for revenue to rise as they penetrate emerging markets and its rising middle income consumers. This is one of the best stocks to buy right now as they continue to shine and release product after product that disturbs this market.
We are only at the beginning of this revolution. Even with the current market. Apple really has a chance to take more share. Currently, it is estimated that 51% of smart phone users are on the Android platform. The iOS, which is Apple’s platform has 17%. That’s not bad considering that 51% has to be shared among dozens of companies, while the iOS is purely all Apple iPhones and iPads.
Apple is one of the best growth stocks to buy. Their P/E is relatively low at 15, compared to the S&P 500 average of 16. And although their stock is trading in excess of $450 a share, it might still be undervalued.
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