Aapl was oversold and may continue up in the short term. Regardless of the technicals, Apple remains one of the great growth stories of our time. The last earnings report indicated 50% earnings growth. Macs continue to gain traction in the home, and have begun to make inroads in the office. The iPhone has sold well and the developers kit - due out at the end of February - may transform the iPhone into a full-fledged fingertip computer - resulting in an increase in sales. To obtain my price target I took the $4.56 in EPS and assumed a 30% year-over-year growth rate (conservative considering their international growth prospects), for 5 years and zero growth thereafter, with a discount rate of 10%, resulting in a present value of around $143 dollars a share.