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madrose1

12/15/06 8:38 AM

#519919 RE: madrose1 #519918

Apple Comp-AAPL shares overvalued according to historic and peer valuation-MP@BERN
Compared to its own history and the valuations of other large-cap techs, Bernstein believes Apple is overvalued. They do not see upside to 2007 consensus estimates, which suggests additional gains are limited.