Apple pays a 5% dividend and trades at 10.6 times earnings.
Where are you getting the 10.6 P/E? My calculation has the P/E around ~18. I do agree that Apple is looking tempting. It is on my radar.
I heard the 10.6 figure on Bloomberg.
I see 14.62 here for 2018 PE..
Instead of guessing and checking unreliable sources, I would strongly advise to only use the primary source - the results reported by Apple directly on its investor relations site!
According to their last 4 10-Qs, their eps were $2.73 + $3.89 + $2.07 + $1.67 = $10.38
The current quarterly dividend is $0.73, so 4* $0.73 = $2.92 annualised
As of today, 14th May 2018, the stock prize is $188.59.
This gives us a P/E of 18.17
and a dividend yield of 1,55 %.
edited May 14
What you have calculated is called the Trailing PE...if you want an estimated PE based on an average earnings estimates go here...
Estimated PE is 13.52 for 2020.