Here's Why Apple Still Looks Like a Cheap Stock

As of the end of last week, 78% of the companies that have reported earnings for the most recent quarter have beaten estimates.

That’s on about a third of S&P 500 companies that have reported thus far. Remember, FactSet says on average (the five-year average), 67% of companies in the S&P 500 beat their analyst expectations. And they beat by an average of 4%. So the numbers in this earnings season are running a little hotter, albeit on a lowered bar.