Tractors and tacos. What do they have in common? Taco Bell and Caterpillar are both businesses that investors are rewarding with stronger valuations — as a multiple of earnings — than Apple can command right now.Which is a puzzle, considering how fast sales of iPhones, iPads, and Macintosh computers are growing.
So what’s the problem? Apple Piper Jaffray analyst Gene Munster offered three reasons Tuesday why investors are down on Apple — and three reasons why he thinks the stock is a buy.