As the overall markets drop in parrallel with an individual stock the PE will naturally drop.
So APPL's PE really doesn't mean a whole lot.
I agree that they have buckets of cash and have had great success over the past year or so, but would apprehensive to add at these levels. Theres just to much turmoil in the market as a whole and AAPL has its own issues going forward to sustain past performance. IMHO
07:32 EDT AAPL Apple shares should be bought on weakness, says Oppenheimer
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07:28 EDT AAPL Apple Q4 gross margin, earnings estimates raised at Jefferies
Sentiment: Strong Buy