For something growing 5% per annum yes. For something growing 15-25% per annum, 24 PE is pretty cheap.
The problem is that growth of 20% can't continue for very long when you're at $50B in revenues. I wouldn't short AAPL - another hit product and a little bouyancy in the market and it could very well double - but IMO it is time to consider shorting AAPL market cap against overall market cap.
The time to short AAPL is- 1) After they announce a deal with Verizon 2) After they split 4-1 Until both of those happen, being short is probably not a good idea.
iPhone 4 already has problems. Apparently when you hold the phone, your hand creates a short between the dual antennas that are in the stainless steel rim around the phone and kills the signal strength. Reminds me of the Jon Stewart joke that the phone is great - except as a phone.
There is so much hoopla about Apple. The whole magazine cover, change the whole world, this-time-it's-different, hero-worshipping flavor of it is making me wonder if it's time to think about shorting pretty soon. There are many competitors hot on their heels.
Anyone see those standing in line once again for a phone they really didn't need but just wanted because of the hype.
<object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/EOQ2S5KXV8s&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/EOQ2S5KXV8s&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object> <object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/MGrNIQW0fZM&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/MGrNIQW0fZM&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="640" height="385"></embed></object> <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/g4ZsRGwRV0w&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/g4ZsRGwRV0w&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object> <object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/P_9UxG1fS8U&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/P_9UxG1fS8U&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="640" height="385"></embed></object> <object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/nKBUkWcQMaM&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/nKBUkWcQMaM&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="640" height="385"></embed></object> <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/P9gLhbNo4jc&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/P9gLhbNo4jc&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object> <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/P3YPhly2v5k&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/P3YPhly2v5k&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>