AAPL - 3 Marijuana Stocks With a Lower Forward P/E Ratio Than Apple
For more than a decade, Apple (NASDAQ: AAPL) has been considered a leader in innovation. The company's iPhone is practically a staple in the U.S., with growth in Apple's wearables, digital music service, and streaming content really beginning to pick up steam. Apple's consistent profitability, its massive war chest of cash, and its general "cheapness" to the broader market have made it one of the most popular stocks to own for a long time.
As of this past weekend, a share of Apple could be had for just 16.3 times next year's forecasted profit per share, according to Wall Street. Although that's historically a bit higher than its five-year average of 13.9 times its forward price-to-earnings (P/E) ratio, it's still less than the S&P 500's forward P/E of 17.7.
Image source: Getty Images.