I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.

Happy Monday. Welcome to Tech Check. I'm John Fort with Julia Borsden. Carl and Deirdre are off today.

Apple within a stone's throw of $3 trillion is the world's biggest market cap company still cheap at this

valuation. Plus, Cowan naming Amazon,

its top mega cap pit for 2022. The analyst behind that call joins us in just a few minutes.

And then exclusive interviews with the CEOs of ServiceNow, EY, and Adobe, Julia.

And let's start off with Apple, John, a relentless move higher. It's in the green again today and up 21% in a month now approaching a $3 trillion market cap. So what would the magic number be? $182.86 a share.

Analysts are racing to keep up. Wedbush and Morgan Stanley up their price targets

just last week. Today, it's JPMorgan, calling the stock a top pick for 2022 and hiking its price

target to a new street high of $210, arguing Apple is well positioned to outperform thanks to a stronger

than expected iPhone product cycle.

But is the stock cheap or expensive? Two measures of evaluation here. Take a look at Apple's trailing 12 months PE ratio and its enterprise value to sales ratio.

Both are certainly creeping higher than historical levels.

Are Josh Lipton with us now from the NASDAQ?

Now that 20% move in the last month, analysts now scrambling.

What's the consensus on how much more room there could be for this stock to run?

Well, it's interesting.

If you look at that recent move, Julian, certainly a lot of people have piled in.

You know, some analysts are going to say in this uncertain environment, Apple has simply become a holding for people that, as they know, as one analyst put it, just makes some investors feel like they can sleep more comfortably at night.

The big company, strong balance sheet, a product portfolio that continues to gain share.

And of course, they'll note that higher margin, steady growth services business that so far at least hasn't been stung by those regulatory risk guys. Josh, wasn't there supposed to be a law of large numbers? Who's going to get punished for breaking this law? I mean, I thought Apple broke it when it hit a trillion, and now it's just flouting the law. It's just thumbing its nose. But seriously, I mean, it was just a couple months ago, I think it was, that we were talking about Microsoft

passing Apple and market cap. Now they're about, what, 400 billion away? Is that right? My goodness.

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