One useful tool to track for Apple is the cash adjusted P/E. The Google sheet below downloads the necessary material and performs the calculation. Currently, the tool shows that the cash adjusted P/E is less than six. The only major American company that comes close to this level is Citi - a bank still trying to recover from the past financial crisis and fear of the next. As I have noted in this blog, Apple does face some headwinds, but a cash adjusted P/E of less than six is indicative of a hurricane. This makes the number worth following.