Tech behemoth Apple Inc. (AAPL) reported a net income of $19.44 billion for the third quarter ended June 25, 2022, down 10.6% year-over-year, while its EPS came in at $1.20, down 7.7% year-over-year.
The stock trades at a rich valuation. Its forward EV/EBITDA of 18.72x is 48.7% higher than the industry average of 12.59x. Its forward Price/Cash Flow of 20.56x is 22.7% higher than the industry average of 16.76x. The stock has lost 9.8% over the past month and 12.5% year-to-date.
