Based on the information below please provide the following:

• How does AAPL's current price compare to the estimated price? Using the industry and sector P/Es, compare both for the TTM and estimated year-end- Is it higher or lower? Provide one rational reason why.

	Firm	Stock Symbol	Current Share Price	Firm P/E Ratio (TTM)	Firm P/E High Last 5 yrs.	Firm P/E Low Last 5 yrs.	Industry P/E Ratio (TTM)	Sector P/E Ratio (TTM)
Selected Firm	Apple	AAPL	179.18	15.08	18.87	10.55	15.69	21.08
Major Competitor	Amazon	AMZN	1859.68	77.56	741.55	74.35	29.98	37.93
	Firm	Stock Symbol	Earnings past 12 months (TTM)*	Mean Year End Earnings Estimate	Estimated share price based on TTM P/E and Earnings past 12 months		Estimated share price based on Industry's TTM P/E and Firm's earnings TTM	Estimated share price based on Sector's TTM P/E and Firm's earnings TTM
Selected Firm	Apple	AAPL	11.89	12.78	179.3012		186.55	250.64
Major Competitor	Amazon	AMZN	23.95	27.23	1857.562		718.021	908.4235
	Firm	Stock Symbol	Earnings past 12 months*	Mean Year End Earnings Estimate	Estimated share price based on TTM P/E and Earnings past 12 months	Estimated share price based on Firm's TTM P/E and Mean Year End Earnings Estimates	Estimated share price based on Industry's TTM P/E and Mean Year End Earnings Estimates	Estimated share price based on Sector's TTM P/E and Mean Year End Earnings Estimates
Selected Firm	Apple	AAPL	11.89	12.78	179.3012	192.72	200.52	269.40
Major Competitor	Amazon	AMZN	23.95	27.23	1857.562	2111.9588	816.3554	1032.8339