“So many pundits and critics have virtually pronounced Apple shares doomed to a long, grueling descent into the dungeon of has-been companies,” Marc Courtenay reports for The Street. “Yet, when you look at the following one-year chart you’ll see that while the doomsayers prattled on about this cash-rich ‘Mercedes’ of smart phones, tablet computers (iPad and mini iPad), laptops and desktop computers, it has started back up the price ladder.”

“Even at the current share price of around $462, AAPL is trading with a trailing PE of slightly more than 10 and a forward (one-year) PE of just 9.3,” Courtenay reports. “This remarkable cash cow, which generates about $16 billion in cash per quarter, is selling at a price-to-earning-to-growth (PEG) ratio of 0.55. This indicates the price per share only reflects about half of the earnings growth rate of the company. Absurd and mouth-watering all at the same time!”

More info and AAPL chart in the full article here.

MacDailyNews Take: Manufactured swoon – based not on facts, but on fomenting and FUD – to be followed by AAPL’s normal rise. Rinse, lather, and repeat.