I'm very curious to know where the author found Apple's share's overpriced, according to J.P. Morgan analyst Mark Moskowitz "Apple's stock valuation hasn't kept pace with the company's soaring revenue and earnings."
"Apple's per-share earnings are expected to rise 81% in the fiscal year ending in September on a 66% jump in revenue, according to analysts surveyed by Thomson Reuters. In contrast, Apple shares had risen 55% over the past year, before Thursday.
As a result, Apple's stock is now priced at 13.5 times future earnings, down from 16.7 at the beginning of the year, according to FactSet Research."
Still seems a good bargain to me.