Apple is still extremely overvalued. $300 by July, at which point I buy then a rally to $350. Buying only because of the safety provided by their cash position in the next year. After that who knows. They could end up using that cash to fund operations, which would be blown through in a couple years. If Rimm can go bankrupt and lose 95% of its value, then so can Apple. Don't kid yourself.
Sentiment: Strong Sell
Well, the Street IS "ridiculous". That's the whole nature of the equity markets. AAPL, up until last Sept., was trading on over-confidence; since that time it's been trading on under-confidence.
It definitely will correct back up tomorrow. It was panic after hours and tomorrow we should start to see that aapl actually had a good quarter! The new products and China deal will be big catalysts too.
Sentiment: Strong Buy
Don't overlook one thing .... the media detractors aren't finished with this stock yet. Tomorrow will just lend more fodder to what many of these Dorks have been saying. I do agree that once some semblance of "sanity" (?!?!) returns to this picture, the share price should begin to adjust upwards. I don't think there'll be any big explosions to the upside immediately, but as this new qtr continues to unfold, i think that folks will see that AAPL's supply chain is not terribly off-center, but rather, expectations as to guidance were to blame. How much of the downside has been priced into the stock at this point is the big question.
I do agree that lower-priced products are challenging Apple's product line. Unfortunately, quantity often substitutes for quality. The Chinese flooding the globe with cheap #$%$ is proof enough of that. So, plastic Androids taking sales away from high-quality iphones is to be expected.