If AAPL were just another stock, it would have a 15X to 20X P/E (not 8.5X ex-cash). But, it's not just another stock. It's a behemoth that everyone loves to pile on and slay when it goes through a pullback. The slaying will stop when it pops back up. Then, with no new information, everyone will love it again. Whether this is the bottom or its something lower, I don't know. But, I am very comfortable that this is nowhere close to the top over the next few months.