Ich überlege mal mir ein paar Äpfel ins Depot zu legen:
....An even cheaper stock I just bought for the first time this week is Apple (Nasdaq: AAPL). The company has a market cap of $7.2 billion, $3.8 billion of cash and $300 million of long-term debt, for an enterprise value of a mere $3.7 billion. Over the past four quarters, Apple has generated $807 million of free cash flow (cash flow from operations minus net cap ex) -- and that isn't an aberration either: free cash flow for the four quarters before that was a comparable $886 million. So, Apple today is trading at an enterprise value to trailing free cash flow multiple of 4.6. That's absurdly cheap. Think about your downside protection this way: with its net cash on hand, Apple could buy back nearly half of its outstanding shares right now.
Sure, Apple's recent earnings warning could be the sign of tough times to come, but at today's price, I believe that anything except a total meltdown scenario will result in returns that are at least satisfactory and possibly exceptional. And I think a worst-case scenario is quite unlikely. It's not as if Apple preannounced a huge loss -- just that sales would be weaker than expected for at least one quarter, leading to earnings per share of $0.30-$0.33 -- in line with the $0.31 in the same quarter last year -- rather than the expected $0.45. And let's not forget what an innovative company Apple is, the new products that are hitting the market (did anyone read Walter Mossberg's rave review of the new G4 Cube in The Wall Street Journal recently?), and the company's pipeline of forthcoming new products.
Hört sich meiner Meinung nach nicht schlecht an...Quelle: www.fool.com
....An even cheaper stock I just bought for the first time this week is Apple (Nasdaq: AAPL). The company has a market cap of $7.2 billion, $3.8 billion of cash and $300 million of long-term debt, for an enterprise value of a mere $3.7 billion. Over the past four quarters, Apple has generated $807 million of free cash flow (cash flow from operations minus net cap ex) -- and that isn't an aberration either: free cash flow for the four quarters before that was a comparable $886 million. So, Apple today is trading at an enterprise value to trailing free cash flow multiple of 4.6. That's absurdly cheap. Think about your downside protection this way: with its net cash on hand, Apple could buy back nearly half of its outstanding shares right now.
Sure, Apple's recent earnings warning could be the sign of tough times to come, but at today's price, I believe that anything except a total meltdown scenario will result in returns that are at least satisfactory and possibly exceptional. And I think a worst-case scenario is quite unlikely. It's not as if Apple preannounced a huge loss -- just that sales would be weaker than expected for at least one quarter, leading to earnings per share of $0.30-$0.33 -- in line with the $0.31 in the same quarter last year -- rather than the expected $0.45. And let's not forget what an innovative company Apple is, the new products that are hitting the market (did anyone read Walter Mossberg's rave review of the new G4 Cube in The Wall Street Journal recently?), and the company's pipeline of forthcoming new products.
Hört sich meiner Meinung nach nicht schlecht an...Quelle: www.fool.com
