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• Wondering if Apple at around US$270 per share still offers good value, or if most of the easy upside is already reflected in the price.

• Over the past week the stock has returned 3.7%, with 8.1% over the last 30 days, a small year to date return of 0.3% decline, and 37.8% over the past year, 66.1% over three years, and 106.6% over five years. Together, these figures give a broad sense of how the market has priced it over different time frames.

• Recent headlines have focused on Apple as a major technology bellwether, covering themes such as product cycles, competition and regulation. These stories help explain why sentiment…