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Apple's Current Valuation Is Still Reasonable

tom b makes an outstanding point. apple has low market share in pcs--if anyone has some up-to-date share from idc or gartner, please inform. with somewhere around 6% or 7% share, apple can still double its base business and still hold less share than h-p or dell. most importantly, apple will still probably evade the viruses and spyware and all that other trash that windows attracts. i still own pc (and use it to run schwab's trading platform), but the last three computers in my household (all bought within the last two years) and all future computers will be mac-based--imac or macbooks. the pc runs so slowly and requires so much maintenance (virus scans, scotty the watchdog surveillance, running spybot). arrgh!!--windows is really dreck. apple can double its revenue with reasonable share gains in the pc world--just growing to something roughly equivalent to the computer sales of either h-p or dell.

if apple ever ports the iphone to verizon i will jump on the platform with all the apps (iphone). and as tom points out, the developer world will start to gravitate toward apple (not abandoning windows, but taking advantage of apple consumer appeal). currently, apple appeals to the consumer pc market, but look for apple to start making headway in the small biz market with developers' efforts.

my biggest concern with apple is the ipod, but even there, they have the "razor blade" of itunes etc to go with the ipod "razors". itunes seems to be a durable franchise.