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"Its P/E ratio hit 13.97 Monday, lower than at the depth of the 2008-2009 meltdown\n\n  \nReader Travis Lewis points out that after Monday&amp;#8217;s $20.41 (5.8%) drop, Apple&amp;#8217;s \n\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\tAAPL\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\n\t\t\t price-to-earnings ratio has fallen below the low point set on Jan. 20, 2009 \u00A0&amp;#8212; six days after Steve Jobs announced his second medical leave &amp;#8212; when the stock closed at $78.20.\nTo make the comparison, Lewis had to go back to Apple&amp;#8217;s non-adjusted earnings numbers, before the company revised its accounting methods to include deferred revenue from iPhone sales. His calculations:\nQ4&amp;#8217;08 EPS: $1.26\nQ3&amp;#8217;08 EPS: $1.19\nQ2&amp;#8217;08 EPS: $1.16\nQ1&amp;#8217;08 EPS: $1.76\nTotal fiscal 2008 EPS: $5.37.\n01/20/2009 \u00A0trailing\u00A0P/E ratio: 14.56\n08/08/2011 \u00A0trailing P/E ratio: 13.97\nIn other words, Apple at $353.21 (which is where it closed Monday) is cheaper than Apple at $78.20 (where it closed on Jan. 20, 2009).\nLewis is a Seeking Alpha contributor who writes about the Apple options market at AAPLPain.com."^^<http://www.w3.org/2001/XMLSchema#string>
<http://fortune.com/2011/08/09/apple-is-cheaper-at-353-21-than-it-was-at-78-20/>