Investors flee Amazon, Facebook, Twitter. Run to Apple

April 29, 2014, 11:08 AM UTC

It’s been a week since David Einhorn told investors in his Greenlight Capital hedge fund that he was betting against a list of “cool kid” stocks whose value could fall as much as 90% “if and when the market reapplies traditional valuations.”

A reapplication of traditional valuations — starting with, say, price-to-earnings ratios — is something Apple investors have waited a long time to see. In last week’s bloodletting, big money flowed out of some high-flying tech stocks and into Apple.

But based on the 12-month trailing P/Es listed below, the market still has a ways to go:

• Apple (AAPL): 14.24
• Facebook (FB): 72.63
• Amazon (AMZN): 462.68
• Twitter (TWTR): N/A

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.