Barron's- A look back in time....Says shares are cheap in headliner on December 29th, 2012 - Remarkable
Apple shares cheap at current levels, Barron's says
Shares of Apple (AAPL) are cheap after dropping 30% from their highs, Barron's argues in its Technology Trader column. The stock's valuation and the analyst estimates are "undemanding," the article states
(Published in Barron's December 29th, 2012 edition.) Remarkable.
They were underpriced then, and they are. There is a fallacy that markets are rational and in any active free market anything will be priced close to perfection. That's fantasy. Markets are ruled by fear and herd mentality (and some corruption).