I'm short., have been for a while.
1) If apple drops, nice, simple.
2) If apple gets a pop, we could see $540-$550 at absolute best. I would expect this to be temporary as it is sold into the end of the quarter window dressing. Sell the losers. I still think Apple would see sub $450.
Either way the risk is to the downside for my bet. Rare opportunity for it to be so clear.
EPS estimation seems low. Apple doesn't give quantitative guidance. I can see a buyback or increased dividend with that stash of cash they are sitting on. Seems like fair value at $500 for now. Just gonna wait for the after-market reckoning.