tech stocks not valued on earnings. they are valued on sales. underlying sales in the billions, net sales about $250m tracking consensus.
250m x 20x multiple(consistent with many hyper growth Saas in nasdaq) = $5000m market valuation for APT. It is a bit under there at the moment, so hence the price looks fair.
The reason people value on sales, they miss the next Amazon, or Salesforce, if valued by earnings. No fund manager wants to miss those ever again.
