This time it actually IS different. For the very 1st time, the largest company in the world leads in only one of the markets its in - iPods and its own iPhones have been cannibalizing them. For the very 1st time the largest company is actually a minor player in the largest markets in the world. And, finally, for the 1st time a company is perfectly willing to cannibalize its own products before anyone else can.
Finally, and most telling, Apple's PE is only 14.6! That's correct, the market is seriously undervaluing them, the earnings are THERE. When Cisco became the most valuable company, its PE was over 100.
As for myself, I bought AAPL at less than $20. I plan to hold it until the fundamentals change.