Subject: Re: AAPL PE when WEB was buying
at $155 / share you get a PE ratio of 19 - at the very low end of the range in the past few years.

And at 19, there is no particular reason to plan on further multiple compression as a headwind. They could stay in the high teens forever, in effect, given what I perceive as the high quality resilience (others may disagree). That's the frequently forgotten factor when investing in high growth firms at their "usual" multiples, the "usual" is never permanent : )

Jim