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Apple (AAPL) stock has been on a tear, up 17%+ since the end of last quarter and +48.5% YTD. For example, in early trading on July 17 AAPL is at $192.84, up 17% from $164.90, where it closed on March 31.
But if Apple's upcoming quarterly free cash flow (FCF) comes in strong as expected, AAPL stock rise even further. In fact, based on our analysis, AAPL stock could cross over $200 per share using a reasonable multiple of FCF.