Regardless of how much growth Apple has YOY, it will definitely have growth and it is priced like a Value stock with zero growth/safe low dividend/declining margins.. But truth is apple has plenty of growth (albeit 10% is likely), a massive dividend if you factor in buybacks, and stable margins due to their number 1 in the world brand. 700/share by 2015.
Why out of line? #s for last year were 47.8M iPhones and 22M iPads... An extra 12.2M iPhones and 8M iPads is way out of line? Consider the factors... TWO new iPhones, much faster roll out. NEW iPad this year + retina iPad mini everyone is waiting for. Also faster iPad roll out.