Tommy, you're falling into the 'pe' trap. Stocks don't trade on valuation like everyone thinks. AAPL is the classic momo stock that trades in pure 'group think' and group trade.
That's why it makes such clear wave counts. AAPL has a problem here in that in order to get to $300 like you suggest, it will have to at least double their earnings which I don't even think you expect in the next 3 years. Ain't gonna happen.
They can't split the stock again because if they do, they'll dilute the stock so much at over 1 bill shares the thing won't go anywhere. Just look at MSFT and INTC. I'm sure they both wish they could take back a few splits.
So, as we enter late next year and the next big downturn in both the economy and bear market, AAPL won't stand a chance of climbing to levels like that. It's getting very close to its next secular ABC correction.
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