On Aug. 30, R. McQueeny from Zacks said that Cupertino, California tech giant Apple reached a new all-time high of $162.96 according to an Investorplace article:
As of 11 a.m., Apple trades around $163, about $20 higher than its 10-year median price-sales value.
The article mentions that even though Apple is significantly overvalued, the company still has strong growth potential due to the anticipated launch of the iPhone 8.
Warren Buffett owns over 130 million shares of Apple as of June 30.
Would you buy Apple stock on this news even if the company trades around 6.38 times book value and / or 3.87 times sales?