how cheap is aapl at 240, exactly?

aapl will most likely earn more than 13 a share in 2010; and possibly much more than that, say 14.50 or so. let's use 13.40 for fun though. aapl has no debt; so stripping out the (at least) 45 a share in cash they have right now - and rapidly expanding - that leaves aapl at 240 - 45 = 195. that means they're trading at about 14x earnings or so. it's very, very likely that aapl will grow by at least 20% next year vs. this year - so the peg's at WELL BELOW 1x; that's astounding for a high-grower like aapl with a pristine balance sheet. most companies like that trade at MULTIPLES of growth, not fractions of it........aapl is very, very cheap down here at 240........

long aapl