How would one calculate the current value of a company like Apple? Apple did not pay a dividend from 1995-2012 which made the dividends 0 for many periods. How would calculate the current value of a stock during such periods?
From: When we say that the value of the stock is equal to the present value of the future dividends, we don't rule out the possibility that some number of those dividends are zero. They just can't allbe zero.