Congrats to all who've weathered the big-ass drops in getting to this point. I've been in and out several times, most recently from 380 to 570 and am currently out. But EMC, WDC, and STX have been treating me very nicely.
Something else to consider is Apple cannot accurately anticipate the volume of purchases they will be receiving from various government agencies this August and September.
But as a subscriber to govexec.com, it's fairly apparent there is significant interest in using end of year funds to purchase ipads for various IT projects underway. Since government agencies do not get to roll their funds over to the next fiscal year, I'd wager FY12 will represent the largest amount of taxpayer money ever directed to Apple from government agencies.
Agencies are anticipating receiving significantly less funding in FY13 primarily from possible effects of sequestration, but also likely cuts from election year changes.
So the volume of government purchases from end of fiscal year purchase decisions should not be used as an indicator for what FY13 government purchases will be.
Do what you will with this information, but it seems a relevant addition to this thread.
Sell when the reasons you bought the stock no longer exists or you think the valuation is too rich. As long as margins stay relatively where they are now >40%, sales in China continue at a feverish pace,and apple continues to innovate I can see $800 easy.
Assume they earn $50/share and garner a 16x multiple= $800 easy
Apple generally runs up prior to a product launch , and sells off afterward