When the Iphone made its first appearance, many stock market analyst assumed that it would quickly come to an conclusion of thinking it would boost apple stocks momentarily and recede back in a matter of time. At that moment of time Apple was sold at approximately 32 times the profit it brought in or as analyst may say" trail earnings" of $89 a share. At that time traders all over was predicting that the stock would drop at a much lower value. But,surprisingly it soared to $109 which was 48 times it's earnings.This is called a black swan (highly improbable cause) which baffled thousands of investors.My take on apple stock at the moment is I believe it still has room for growth especially in the software development region ,since the leopard x operating system was released not too long ago . I also believethat the IPod has not yet hit its pinnacle of performance , Apple still can add wireless internet on thee EVDO network onto their IPods Which could boost their earnings from Itunes and the the Ipod. The IPhone still in its beta stages has endless possibilities of add ons that could allow the company to be on level grounds with Microsoft.