I thought all along that PE was around 10, is this due to the recent price hike based on last quarter's earnings? If so PE should come down again since this quarter's earnings are spectacular. Ameritrade also says PE is 23.
The P/E is the trailing earnings, the price / actual earnings for the precedeing 4 quarters. The forward P/E is the price / estimates for the next quarters. Since earnings can be volatile you should look at revenues too, and earnings growth.
I think that the PE ratio is based on either the cumulative preceding 4 quarters' earnings or perhaps the last calendar (or fiscal) years' earnings.
I think that people confused "PE" ratio with "PEG" ratio which is a view of the stocks price relative to expected growth, which can change. I believe that some think that the PE is lower than it is because they try to factor in expected growth.
I suppose some PE ratios are more current than others but it would seem that they could only be accurate if they were based on booked (read: past) earnings. Anything not based on booked earnings is nothing more than guidance.
Notwithstanding, it's the guidance in the form of expected growth that has lead many to invest in AUO. We think that the company is going to be much more profitable and, therefore, it is undervalued in our eyes.