In valuation, PE and DCF are lousy methods to start with.
Neither tells you what's driving the earnings and what's the macro trend.
I never liked aapl stock but I did take me as a surprise when it hit 700.
for a $400bn company, the best valuation method is "gravity".
I had a friend who thought RIMM was too cheap years ago only to find it cheaper.
AAPL would become the next NOK or RIMM. Happy shorting.
I feel sorry for greenlight capital who made it so public that they have been riding downward with the stock.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.