(Bloomberg) — Apple Inc., the largest U.S. company by market value, has gotten little respect from equity investors. Until now.For the first time since 2011, shares of the iPhone maker have traded at a higher price-earnings ratio than the S&P 500 for months amid a year that saw the stock’s valuation almost double. It’s a reversal from the previous nine years, when concerns over a lack of product innovation kept the stock at a persistent discount to the market.Credit the shift in sentiment to Apple’s focus on tapping an ecosystem of nearly 1.5 billion users to generate a steady stream …read more
Source:: Yahoo Finance
