Apple posted their Q2 results yesterday, and they are amazing. This company is now bigger than Microsoft in market cap, revenue, and profits, and their growth is phenomenal for such a large company (83% revenue, 95% profit). They sold 3.8M Macs 18.7M iPhones, 9M iPods, and 4.7M iPads. Whoa.
Yet .. the stock is under valued, at a PE of 16.3. Horace Dediu did an analysis in which he suggests Google's Android may be at fault, reducing Apple's market cap by $300B. Since Google's value is only $169B, if Apple bought Google and shut down Android, it would be a huge win :)