To me, $453 the actual price people are willing to pay right this second. Why do you guys think it is worth more than that? Are you mortgaging your houses and go full margin to make a killing if you think it's cheap?
simple = because people are talking like AAPL will never invent another product again. They just see slowing margins on their existing products. What I see is 180 billion dollars to basically invent anything they want. They are not valuing the cash properly. AAPL is in the enviable position of having the money to buy the people or the companies they need to make the new "next great thing" become reality.