Calculate to have been the price to earnings ratio

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Reference no: EM131987404

Apple, Inc. showed a market Cap of $901.956 Billion at noon Eastern Standard Time on March 1, 2018. Price of the stock closed at $178.12 per share on February 28, 2018. The Net Income reported for Fiscal Year 2017 which ended 9/30/2017 was $48.351 Billion. Assuming that the Market Cap was the same on September 30, 2017 (it wasn’t exactly the same) and the stock price was the same $178.12 per share (it wasn’t exactly the same) what would you calculate to have been the price to earnings ratio for Apple’s stock as of 9/30/2017 to the nearest hundredth (i.e. to two decimal places). Show your calculations.

Reference no: EM131987404

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