I shorted apple at 431 432 last week or what have you and covered at 399 the other day. I wish I had the guys to hold it longer. I personally feel a phone, laptop, iTunes company can not be worth $400B Dollars!!! Twisted American math.
Remember cash on their balance sheet is a non-yielding asset, it is worth $0. It does not create anything until they make it create something like acquisitions, etc.