AAPL , MSFT , INTC are at approx a PE of 10 .
But they have benefits that IBM does not have , a large hord of cash .
That means their dividend is much more secure even though it is at least double that of IBM .
IBM growth is far lower than AAPL , conclusion ?
There is no way IBM should have a higher PE than AAPL .
So PE 10.40 here we come which translates to sub $150 for IBM stock