Apple (NASDAQ:AAPL) is going to close higher on the day after its earnings report for the first time since April 25th, 2012. On that day the stock rallied $49.72 (8.87%). With a gain of 5.95% today, Apple is having its best one-day gain since November 19th, 2012 when it rallied 7.21%.
At $444, Apple currently has a trailing 12-month P/E ratio of 11.09. For those interested, below is a long-term chart comparing Apple's stock price to its P/E ratio. Throughout Apple's huge run higher over the last decade, the stock has mostly experienced P/E contraction as a result of unbelievable earnings growth. There was a period from mid-2006 to the end of 2007 where the stock saw its P/E expand, and there was also P/E expansion in 2009 as the world came out of the financial crisis. Since the end of 2009, however, Apple's P/E ratio has been in a steady trend lower, falling from 22 down to 11. For those wondering, Apple's forward P/E is currently at 11.30, just a tick above its trailing 12-month P/E.