Investors are treating Apple like a growth stock. But the math doesn’t add up.

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today. Apple’s strong Q3 earnings announcement––drawing kudos on Wall Street and sending its price surging to record highs––underscores the puzzle that faces anyone thinking about buying the shares. Until recently, Apple was a value stock. So cheap was the iPhone…
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