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Apple Inc (AAPL) reported strong fiscal Q2 free cash flow growth (+28% YoY) and high FCF margins driven by iPhone sales and services growth. As a result, AAPL stock could still be over 23% undervalued based on our FCF margin and FCF yield model.
AAPL is up over 4% to $284.25 per share, and could have more upside. My model shows AAPL could be worth over $350 over the next 12 months. This article will show why.