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苹果公司股价被高估还是低估了?

Benzinga

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Benzinga
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Benzinga Staff Writer


苹果公司股价自年初迄今为止的涨幅为12.6%,在2021年的表现落后于标普500指数。

苹果公司仍提供了令人印象深刻的业绩增速数据。

不过苹果公司的市值已达2.54万亿美元,部分投资者想知道苹果公司的股价是否仍有任何空间。

市盈率:

市盈率(PE)是最常见的用于衡量股票价值的基础性指标之一。市盈率越低,股票的价值越高。

作为对比的数据,标普500指数目前的市盈率约为34.6,是长期平均市盈率水平15.9的两倍多。

苹果公司目前的市盈率为29.4。虽然这一数字低于标普500指数整体的市盈率水平,苹果公司股票的市盈率在过去5年时间里已经翻了一番有余,意味着其估值已经相当高。

成长性:

在预期接下来四个季度时,标普500指数的远期市盈率仅为20.7,看起来更合理些。不幸的是,苹果公司的远期市盈率为26,目前的苹果股价并未显示出低估。

实际上,与平均远期市盈率为26.4的科技板块公司相比,苹果公司的股票看起来相对合理。

虽然在评估一家公司的股票时,市盈率并非全部标准。

对于利润率较高的公司而言,营收增速同样关键。市盈率相对盈利增长比率(PEG)是一种将增长率纳入评估过程的好方法。

标普500指数目前的整体市盈率相对盈利增长比率约为1;苹果公司的市盈率相对盈利增长比率为1.49,再次表明苹果公司股价上涨空间可能有限。

市销率是另外一个关键的估值指标,特别是对于不赚钱的公司或成长股而言。

标普500指数的市销率目前为3.1,接近其长期市销率1.62的两倍。

苹果公司的市销率为7.3,并不是价值投资者所期望的数字。

结论

就目前的估值而言,苹果公司的股票没有显示出任何明显的被高估的迹象。

不幸的是,苹果公司的股票似乎也没有被特别低估的样子。

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