Apple

[Grieve]

The analysts are starting to model not just lower growth, but negative growth. At a PE of 6.45 ex cash, they are really priced for armageddon. One analyst today lowered his price target from $800 to $300. That would give them a trailing PE of something like 4 ex-cash. It really is staggering how sentiment has soured. Everyone is also assuming no new products, which is pretty insane.

I bought more shares yesterday, for both my and wife's IRAs. Not buying any new options for now, since it's impossible to know when things will turn around.