Apple stock is 'cheap' compared to the broader market and its peers, Bespoke's Paul Hickey says

The Bespoke Investment Group's Paul Hickey compared P/E ratios of S&P 500 components to Apple." When you look at Apple, it's cheap relative to the broader market," the firm's co-founder said Friday on CNBC's "In a special chart, Hickey shows Apple is well below average in relation to the current multiple of every S&P 500 stock.

And, it's not just the overall market. According to Hickey, the iPhone maker also trades at a 25% discount to the average technology stock. Plus, his report found Apple is trading at a "big discount" to the average consumer product stock. It's a pertinent data point as more investors, as well as CEO Tim Cook, sees it more as a consumer product company.

"You could just compare Apple to any other sector, and it's trading at a cheaper multiple," he added. "Even mega caps in the

TradingNation Nice

TradingNation The average of the US Corporate AA yields suggests that you should be willing to pay 23 times earnings. $AAPL is trading at 17.1 times earnings which is a 35% upside. The average PE ratio in the past 10 years has been 25 times earnings. Apple is a wonderful company! Own it!

TradingNation Yep

TradingNation Still too many $AAPL haters! $BRK Apple

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