Um, LOL, if ATT does a two for one deal that is not coming out of Apple's pocket; its coming out of ATT's pocket and Apple gets full payment from ATT for both phones. So, I hope the wireless providers keep cutting each others throats and making things more affordable for the consumers while Apple continues to sell massive units and print more money.
Apple sells at 9 times forward earnings and has 1/3 of its entire market cap in cash. It grew its earrings 30% YOY for that pitiful multiple. No, Apple is not overvalued at all. But the rest of tech and the market are.