- Mobile revenue growth drove EBITDA 0.5% in the half, net profit after tax (NPAT) rose 21.7%, and the interim dividend was lifted from 14.5c to 15c fully franked.
- Return on equity (ROE) rose from 26.8% to 30.7%, while return on invested capital (ROIC) rose from 15.2% to 16.4%.
- With interest rates going lower, a 12 to 18 month share price target, based off a pre-tax yield three times the cash and fixed interest alternative of $7.50, is not out of the question.
The great American activist investor Carl Icahn believes Apple is worth $US1trillion dollars. With a current market cap of $US744 billion and forward P/E of 14.9 times, it’s hard to argue with Mr Icahn’s view that APPL.NAS could rise another 34% and become the world’s first trillion market cap company. For the record, Mr Icahn’s listed vehicle, Icahn Enterprises, would be a top-20 stock in Australia.