Apple is trading far above where it should be trading and investors need to reevaluate how they value the stock, said David Trainer, CEO of New Constructs, a stock research firm. Apple's stock should be at $240, he said, pointing to one key metric for this expectation.
"It's a curse and blessing to have a really high return on invested capital," Trainer said. He noted that with such a high metric—which at one point hit 330 percent, dropping to 227 percent in 2012—any company would invite a large amount of competition.



