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.

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