Seeing their 'blah' performance today, I just wanted to point out the obvious.
AAPL's year end estimate is 19.02. (They will most likely surpass this, but lets be conservative.) If you were to slap an 18 trailing PE (again, conservative thinking here) on the 19.02, AAPL will be trading at 342.
IBM's year end estimate is 11.44. If you were to slap a 13 trailing PE on the 11.44, IBM will be trading at 148.
No genius thinking needed to figure out my point...
The only thing needed to get these stocks higher is time. (No multiple expansion, no blow away earnings/guidance.) They just have to perform like they always do. Then the market will realize the above fact.