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Because I'm a diehard bargain hunter, I find Apple's stock too cheap to pass up. By Kathy Kristof , Contributing Editor From Kiplinger's Personal Finance, April The approach also helped highlight my growing stake in Apple symbol AAPL , which has come to occupy a disproportionately large part of my portfolio, even after it performed poorly over the past year.

I first invested in Apple because the stock was depressed in the aftermath of the death of its iconic CEO, Steve Jobs, in October Why do I keep buying Apple?

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First, I believe that not only was Jobs brilliant and innovative, he also hired bright and innovative people—among them his successor, Tim Cook. The idea that thousands of talented Apple employees would lose their mojo without Jobs badgering them and bringing out their best defied common sense, in my view.

And so does much of the rest of the world. Compare that with a price-earnings ratio of 16 and a 2.

Why I Keep Buying Apple Stock

Beyond the forecasted revenue drop, Wall Street worries that Apple will no longer produce consistent, above-average profit growth. For starters, the expected launch this summer of the iPhone 7 will surely goose sales.

Moreover, Cook says the company is using this period of economic uncertainty to invest heavily in emerging nations—most notably in China and India, where a favorable combination of demographics young populations and economics growing wealth bode well for high-quality consumer brands, even if they are a bit pricey.

But that brings me back to valuation. At 10 times earnings, Apple is priced more like slow-growing Bank of America BAC than a magnificent technology leader. I feel confident about my latest purchase and might even buy more Apple shares if the price drops further.

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