Apple Stock Is Still Cheap

Many investors are fighting the last war, in which every tech titan inevitably gets its comeuppance.

My 10-year-old daughter, Julia, and I were recently discussing the stock of Apple (symbol AAPL). “Dad, everybody owns it already!” she said. For me, it was a Joe-Kennedy-and-the-shoeshine-boy moment—in reverse. The market is terra incognita for Julia, but she is certain about one thing: Apple is over-owned. After all, Julia owns the stock. So does Mom. And Dad. And the parents of many of her friends. Who in her orbit doesn’t know by now that Apple is a great company?

Super Cheap

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Andrew Feinberg
Contributing Columnist, Kiplinger's Personal Finance
Feinberg manages a New York City-based hedge fund called CJA Partners.