Stock price (day's high):
The day Jobs died= $379 Oct 5, 2011
This day last year= $429
Given that fundamentals have only improved for Apple in the last two years, I would say your post proves you to be a #$%$ The stock is up 16.5% from this day last year, and 32% from when Job's died. Also figure in that we are basically at a bottom right now (PE=11). The stock will increase in value after earnings, when people figure out they are stupid for selling. the PE will be about 15 on Earnings of at least $45 for the past year. Which gives you a price of about $675. Learn how to do valuation.
I guarantee you, that everything that has been done after Tim Cook took over as a CEO, was already planned and ready for execution while Steve Jobs was alive. So that even after SJ passed away, Tim Cook had everything served on a silver platter. He COULDN'T have blown it even if he had tried. Now we see the effects of what has happened, and what will continue to happened, to Apple. Lack of ingenuity and competitors catching up on Apple is the main reason why Apple will lose foothold that they once used to dominate. Tim Cook is not Steve Jobs. Apple WAS Steve Jobs. A stock just doesn't drop $200 over several months for nothing.
You sound like a complete #$%$ Lecturing someone on what valuation is, then using a metric (P/E) that is backward looking. Moving FORWARD, Apple will experience EXTREME profit margin compression - this is the metric that at one time help drive the price to $700. Apple is headed under $400 within a year.