Update: Is Apple Overpriced?

I have written in the past that Apple shares are over priced. Well they were back then and they are gain now, but what we didn't catch was a unique buying opportunity this week. For a day, Apple's shares dropped from around $180 to less than $160. That was a big drop, but in the next day the stock rebounded nearly all of that. Apple's fundamentals didn't change -- it was due to the broader market's concerns and investor nervousness. At the time of the drop, Apple's Forward PE ratio dropped to the mid 20s! That was a great buying chance -- didn't any of you capitalize on it?