Apple had $34.1 billion cash end of September or $38/share. That’s up from $31b and $34/share last quarter.
Anyone could have forecast this cash (it was $32/share beginning of this year). Back in March when the stock traded at $78 or 2x cash Apple was being valued at $40 in forward earnings or 6x TTM EPS.
Yes, you heard that right. Six times earnings for a company growing 30%.
Those were the days.
