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Philly what's not true? Because your examples are all different models of psychology (estimates, forecasts etc).
I said nothing about Apple being undervalued, I'm talking about it's performance over the past two quarters. Obviously it's undervalued. But It has been steadily falling due to the factors you pointed out, as well as public insecurity regarding corporate reshuffling, lack of innovation, underwhelming product launches, comeuppance of competing technology, etc. But the company's bottom line (IE how much money it's making, trend of market share, growth) are all increasing. The fact that it isn't increasing as a result of people's estimates isn't an accurate view of the company's real value. It's psychological. Animal spirits, as economists have labeled them.