With shares of tech giant (NASDAQ: AAPL) up more than 32% year to date, some investors might be wondering if the stock has become overvalued. After all, revenue or earnings didn't grow during this period. On the contrary, they contracted.

The stock's big gain, therefore, has been driven solely by valuation multiple expansion. Is the big move justified? Or is it time for shareholders to take some profit off the table?

Despite the stock's sharp and rapid rise this year, shares not only don't look overbought, but they arguably appear attractive.

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Source Fool.com