AAPL deserves a forward P/E of 15X ex-cash, if not 20X. The typical company with their growth would have a P/E up to 2X their EPS growth rate. And, many of those don't even have net cash because they have more debt than cash. AAPL has $128B in cash and will add $40B+ per year and no debt, despite a $10.60 annual dividend. A 15X forward P/E plus cash would be $880+ per share. When I hear people try to explain the deteriorating fundamentals, I don't see it. I was the CEO of a public company for 16 years. Despite their size, their opportunities are tremendous. Will it go down further in the next few days? Maybe. But, it will be at $800+ in a year or so IMO. And, I think it will be pushing $600 by year-end when the tax gain selling abates and shorts cover to take their recent gains in this tax year. Also, who would want to be short at these prices going into earnings?