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At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.3 and the risk-free rate was about 4.5%. Apple's price was
At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.3 and the risk-free rate was about 4.5%. Apple's price was $82.72. Apple's price at the end of 2007 was $193.19. If you estimate the market risk premium to have been 6.3%, did Apple's managers exceed their investors' required return as given by the CAPM
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