Apple's current valuation of 35x earnings is unjustified because the company can grow its top line only 6-7% annually and lacks the ability to expand margins much beyond current levels, meaning the stock should not command such a premium multiple given these growth constraints.
normativepending
Speaker
Chris MeredithEvidence Quote
“it's a business that I don't think can grow its top line much more than 6 or 7%... at that level of growth with an inability to expand your margins much, you don't pay 35 times earnings”
Source
We Asked Chris Bloomstran Why He Won’t Own the S&P 500 At These Levels — And What He Does Instead— Excess ReturnsCreated: 8/12/2026, 6:13:17 PM
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