Like everything AAPL does, the timing of this announcement is no coincidence. AAPL is going to miss estimates terribly, and guide lower for next Q and this current FY. The timed Jobs announcement to divert focus on the lackluster performance onto his health.
2011 earnings will come in at $18 a share. This thing is worth $240 and not a dime more.
If analyst after analyst raising price targets to $450 wasn't warning enough that the top was in, you have now been warned. AAPL will lose 1/3 of it's value in 2011.