From Reuters Scotty Barber, one of the only possible Apple charts you can make that doesn't go up.
It's a look at the company's PE ratio vs. that of the S&P 500.
Note that this is the "forward PE", so at the moment it's based on estimated earnings, but the gist would be the same even if you used trailing PE.
Of course, this chart makes Apple investors pull their hair out, since the 'E' has been growing so fast, they don't understand why it's converged with the general market like this. In theory, fast growing earnings should cause higher multiples.
On the other hand, as fast as it's growing, we don't think there are too many companies out there that have reversed such a big secular trend of PE compression.
