So much for Apple Inc.'s (NASDAQ:
AAPL) big earnings miss.
After coming under some brief pressure, Apple has since powered its way to new all-time highs.
Much of that rally stems from one key fact: Apple is set to release the hotly watched iPhone 5 as early as Sept. 21.
Make no mistake about it -- this is a key product launch for the firm, its stock and the whole mobile computing food chain.
Based on the number of people who want to buy the new device the moment it comes out, I think the iPhone 5 launch promises to be another huge success.
Clearly, the market agrees or Apple shares wouldn't once again be on such a tear.
For investors, that means it's time to take a serious look at how to ride this trend as the iPhone 5 product launch unfolds.
In fact, I've found six ways investors can play the iPhone 5's release right now. They include:
iPhone Play Number 1: Apple Inc. (NASDAQ: AAPL)
No doubt, many investors wonder if
Apple stock can go much higher. Yes, it sports a high sticker price. But take a look at the numbers.
AAPL trades at just 12 times forward earnings, in line with the overall market. It sports a PEG of just .65 and has an operating margin of 35%.
Talk about cash flow. It has $27 billion in cash on hand and an equal amount in free cash coming in. And earnings will likely continue to grow at 20% a year.
Not only that, but the iPad is still ripping the high-tech market to shreds. Shipments grew 44% to 17 million in the second quarter, giving Apple the lead in the fast-growing tablet market.
Now you know why Peter Misek, an analyst at Jefferies & Co., has raised his price target to $900 from $800 a share, for a potential upside of 38%.
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