Seems Stupid To Write This On A Day Like Today, But Here Goes.....

Many people assume that AAPL stock has been the darling of Wall Street during its big run over the last few years. The truth is just the opposite. Apple stock growth is doing a poor job of tracking the actual growth of the company. And of course it's getting slammed today. Such a disconnect creates a buying opportunity on this widely followed but severely misunderstood stock.

Two years ago Apple stock was trading at $187.62. Today the stock trades more than 30% higher at about $250 or so. Which segments of Apple have outgrown the 30+%? Consider the following comparisons from the 2008 March quarter with the 2010 March quarter:

* Revenue growth: 80%
* Net Income growth: 192%
* iPhone growth: 415%
* Cash growth: 115%
* iPod Touch growth: 63% YOY
* Chinese revenue growth: over 200% YOY
* iPad didn’t exist
* iAd didn’t exist

Will Apple stock accelerate into each quarterly earnings release as it tries to keep pace with the company? I really don't know, of course. Not only do Apple’s competitors struggle to keep up with Steve Jobs, but Apple stock can’t keep up either.

I'm wondering if investors will make up the difference more quickly than the competition. Possibly the P will be racing to keep up with the E in the P/E ratio. The most amazing thing about Apple is that its growth is still accelerating. The next 18 month’s of earnings look primed to propel Apple to possibly become the largest market cap stock in the world.

long AAPL