The valuation figures on Apple look so cheap that it boggles the minds of many traders, but that doesn't mean the stock is necessarily a buy right now, they said.
Apple trades at a forward price-earnings ratio (minus cash) of an astounding seven, according to Goldman Sachs. And revenue will increase a whopping 17 percent this year, estimates the firm. What's more, the stock sports a dividend yield of nearly three percent.
"It is dirt cheap right now," said Michael Murphy of Rosecliff Capital. "But I had to get out because it was trading on headlines and 'The Street' is way too emotional about it."