That is the suggestion I am giving to the non-investor who wants to put something in the market now that it has fallen, but they are worried about a further decline.
The P/E ratio of this stock is just stupid low, especially given it's growth rate. But it is low even for it's sector in general. Technically, the stock also has decent support below us at the 353 level.
But I started to wonder about this advice in the early minutes of hearing the Jobs news. We all knew it was coming, but we weren't sure of the reaction.
But the thing is we now have a clear succession plan and we are less likely to have Tim Cook poached by another company because Apple refused to give him the title that he deserved. In all honesty, the announcement this week just makes official the reality that has existed for the last two years.
...and as for the stock reaction, it is actually trading stronger then it was prior to the announcement. I guess all those tweets from everyone saying buy AAPL in the a.m. had some effect....at least on the retail investor.