Apple Inc. (AAPL) generated strong free cash flow (FCF) growth and a high FCF margin in its fiscal Q3 results. Moreover, analysts' revenue forecasts are higher, implying higher FCF over the next 12 months. AAPL stock could still be somewhat undervalued after Friday's tumble, as this article will show.
However, a better play than buying AAPL stock is to short one-month out-of-the-money (OTM) puts. This article will delve into that play.