Introduction

Throughout the past several months Wall Street has quickly eroded Apple’s (AAPL) impeccable corporate image. Shares have fallen roughly $100 from mid September highs, and fiscal year (FY) Q4 earnings, fell short of the market’s expectations.

As expected, these recent events have Apple bears crawling out of the woodwork and declaring the great tech giant’s now imminent demise. Luckily, for longer term value investors, Apple shares are now cheaper than ever.

Short sellers, and bearish speculators may point to a ~50% rise in the past 12 months, as a sign that Apple is overbought, and thus overvalued. But in that same period, Apple actually grew revenue by 44.3%, and earnings by 59.5%. Apple’s financial metrics have risen faster than share price in each of the past 2 years.