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Agree, Apple could run down to $300 but will be for a sort time, if it happens (unless the world's economy really tanks). Apple, just recently for a few days, passed Exxon as the most valuable and profitable company in the world. Apple now commands close to 30 percent of household computer market up from 5%, thanks to iEverything they make. Their phones, pads, and pods are so popular that a lot of PC owners are converting to Apple so that they can share information from their iWhatever. Apple is also getting into software and recently bought a chunk of Nortel's inventions. So, as Steve Jobs said, the best times for the company are yet to come.
As a side note, Apple closed today at $376.18 and it has a value of $499.39 based on an interest rates and rate of inflation method used to value all stocks. Apple sits at the top of a list of more than 8700 stocks in terms of relative value, safety, and timing. With a projected 23% growth in earnings, earning yield of 8.25, and PE of 12.12 I can't help but to believe Apple will be there for a long time. Like culture, it has become ingrained in people's life.
Apple is like Marilyn Monroe or the Beatles in early 60s, all the young people were in love with them (except that some of them already died). Now, the younger generations love Apple.
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