Apple Inc. (NASDAQ:AAPL) may be the largest company by market capitalization in the world, but it can still rally hard. Shares of the company have grown by 3% as the broader market recovers after two days of losses. Given its hundreds of billions of dollars on its balance sheet and its 10.67 forward P/E, Apple is dirt cheap. Seeing as Apple buys back tens of billions of dollars worth of its own stock every quarter, it's not hard to see Apple trading for analysts' consensus price target of $148 per share or higher in a year's time. According to our extensive database, 133 elite funds were long Apple Inc. (NASDAQ:AAPL) at the end of the third quarter, with David Einhorn's Greenlight Capital among them with a holding of more than 11 million shares.