Apple: Now 21% undervalued after recent price drop

Now 21% undervalued after recent price drop

• Over the last 90 days, the stock is down 7.4%.
• The fair value is estimated to be US$200, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
• Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 29%.
• For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings is also forecast to grow by 4.1% per annum over the same time period.