On the back of several influential hedge fund managers' bullish bets on Apple (NASDAQ: AAPL ) and an iPhone media event just around the corner, the Cupertino-based tech giant's stock is once again hitting $500. Up from just lows below $400 just about four months ago, it's time to take another look at the stock.
As tech analysts Eric Bleeker and Daniel Sparks discuss in the following video, even after a surge, the stock still trades at a price with impressively cheap valuation metrics. The S&P 500 in general, in fact, still trades at a significant premium to Apple stock, Daniel explains.
To hear more about Eric and Daniel's thoughts on Apple at $500, check out the video.
Apple is in the middle of a bitter battle between the company and competitors such as Google and Microsoft. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged among the five kings of tech. Click here to keep reading.