For most companies, a 4-5% move up in roughly three trading hours would be an oppurtunity to sell the pops. Where Apple has been, I think you will see more and more buying. A meandering path to 480 is what I expect.
No, it dropped too far too fast and now it's just getting started on getting back to sanity. All the Wall Street naysayers convinced everyone Apple was doomed so they could get it at a cheaper price...And, to their credit, it worked!