Do you really believe when people say Apple is cheap at these levels??
IT's not cheap at all....moving forward the competition will eat away at every part of their business.. It's NOT CHEAP AT ALL. While you believe.. people are selling ..look around you. From $700 to $450 in a few months..WOW...come to Nokia :) They beat you to China..India..Europe..that's a big deal !!l WP8 will rule you know it and so do I.
Those are what if scenarios. From recent earnings, cash on hand and next quarter's projections this is cheap.
The fact that reality has been turned off for this stock and it is held to impossible standards compared to its peers is a completely separate issue. Nokia? Their sales are shrinking and stopped paying a dividend. No comparison