For Money Morning Capital Wave Strategist Shah Gilani, the answer is easy.
"It's still inexpensive at this level based on every metric you look at," Gilani said on the FOX Business program "Varney & Co." today (Wednesday).
AAPL stock closed at $122.02 yesterday, putting its market cap at a record $710.7 billion. Today Apple stock rode even higher, trading at about $124.50 through most of the session. That pushed Apple's market cap over $725 billion.
Think about just how enormous that number is.
For instance, if Apple were a country it would rank 20th in gross domestic product (GDP). Apple would fall just behind Saudi Arabia ($778 billion) and just ahead of Switzerland ($679 billion).
Mind you, Google and Microsoft are megacaps themselves. Google has the fourth-largest market cap in the world; Microsoft the fifth.
Apple got this huge because of its uncanny ability to make money. According to research firm Asymco, Apple alone accounted for 8% of the S&P 500's total fourth quarter profits.
Logic would seem to dictate that AAPL stock can't go much higher.
And yet the answer to "Should I buy Apple stock?" remains an unequivocal yes.
"It's inexpensive on a price/earnings basis relative to the market, it's inexpensive to a lot of other companies on an enterprise value basis relative to its cash flow yield. It's a cash flow generating machine," Gilani said.
In the video below, Gilani explains in detail why investors should buy Apple stock.
Should I Buy Apple Stock: Video
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