Apple is second, that's great. I agree with ranking system in their case, especially if you take margins and potantiol international penetration into account.
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Nice to see Apple on your list, they really deserve it. But they have only made it because you put hurdle rate for Price/Tangible Book <4. It is in fact natural for a company with such innovative potential like AAPL to have a price way over the value of the tangibles.
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