"Is It Time to Cut Back on Apple?"
April 20, 1012: The Wall Street Journal
During that same period, Apple's stock price has soared sevenfold—but its profits have increased by 1,200%.
One reason why the P/E is so reasonable, experts say, is that the technology sector is especially fickle, and investors are unsure of future profits. "This is a technology company in a world where technology changes quickly," says John Goltermann, a portfolio manager at Obermeyer Asset Management in Aspen, Colo. "Now, it's the incumbent, but that's not necessarily going to be the case forever."
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