Apple Inc, the iPhone, Mac, iPad, iPod and various services producer, became today the first company in history valued at 3 trillion USD.
In my opinion, Apple's intrinsic worth is 1.4 trillion USD. With other words Apple Inc is significantly overvalued. Smartphone sales have been contracting globally, iPad sales as well. Apple has struggled to make its Mac computers main stream. Yes, there is the App Store and services, but hardware design and production still makes up the significantly larger share of Apple's yearly revenues. And new projects like autonomous cars are a long way away.
In short, investors seem to be pricing too much future growth for Apple.
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