those average analyst estimates are way too low. take a look a deagol's estimates released a few days ago. he is the third most accurate analyst covering aapl. fwd p/e is now 12.9 (10.5 exc cash)for company growing rev/profit >50%. that is lower than the sp500 avg that it is outperforming 300-400%. it will need to be 350+ in jan after earnings just to maintain the ttm p/e~20.