Why Apple is Overvalued
Forget the current numbers - the future earnings of Apple will not match the $300+ billion market cap.
It's not about competition, which is getting better at making smart phones and tablets.
It's all about salesmanship! The death of Steve Jobs is the end of the great Apple product rollouts. The excitment of the iPhone 5 and iPad 3 will only be created by telling the masses "This was Steve Jobs next visionary product, which he detailed to our team before he passed away." Mark these words, that's all they've got.
Maybe, just maybe, with a digitally engraved Steve Jobs signature the Apple marketing team can charge $25 extra for limited edition products, but that gravy train will only last another 12 months and that's assuming they capitalize on my idea (which they won't pay me).
In my head, I've got the next great product, but I'm not giving it away for free. However, when I see a company trying to mimic my idea (let's not fool ourselves and think we're the only one who can think of a great idea), I'll invest and write about company X.
Seriously, you may want a whole lot of numbers to show why Apple will fail, but the future does not yet exist. They will do well as a company, I'm not saying they're going bankrupt, just that they are overvalued by at least 25%.