So is 450 ish the new normal for apple or do you guys think it will go down or up ?
Short term I'd say 400 is the accurate price.
It could hold or rise 500-600 if Apple somehow magically thwarts all competition while keeping margins high. More likely their margins will be reduced and their market share will be reduced with iphones and ipads. I'd say long term, 5 years from now with no new products, Apple will be around $200/share. But that's really a shot in the dark.