His quoting 2019 Financial year figures with a 2020 share price.
The 2020 figures won't much better. The price to sales will still be at least 50:1. The customers will still be valued at 20x what they are worth. The company will still be losing money.
On a FA basis you can't realistically value APT over about $3. The rest is just spin.
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SHare Purchase plan at $66 tomorrow Or Buy at Market, page-189
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