Thanks hissyu2 for your comment, you just summed up my points! =) I didnt realise Apple is trading at such P/E as well.

Thanks for the comment lulhunter. I might be wrong, my concern would be that when it is trading at a price so high leveled up due to optimism on its business nature, I afraid that it might approach/exceed its future value. Anyway it is just my opinion as I have no correct estimation on its future growth and insights in this industry.

Exactly. Through this example, I wanted to point out that even with such unrealistically optimistic discount rate and company growth rate, the company still seem overvalued, hence the actual value would be much much lower. On top of that I'm not aware of any other factors that could elevate it's estimate value to that extend.

Thanks for the comments, I didn't not have any other blog at this moment, will be writing here if I came across any useful thoughts/ideas.

Feel free to modify and use the worksheet I created and let me know if you have better idea of using it =) (link to download: https://dl.dropboxusercontent.com/u/86103942/Simple%20DCF%20Calculator.xlsx)

What pro la, still learning and dy paid quite some amount of lesson fees lol.

Hey riche, remember me? =) I have been into stock investment myself for a few years now. I primarily focus on DCF approach. Excited to see you have passion in investment as well! Very well researched article and solid content. Perhaps we could catch up someday =)