Apple ( AAPL) Background: Apple designs, manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Apple trades an average of 14.4 million shares per day with a marketcap of $648 billion. 52-Week High: $685.50 Read my previous article, Apple and Google Dominance Extinguishes Hope For RIM . Like almost everyone else writing about Apple, I am bullish. I have not always been bullish, but I am happy to report that I caught the best part of the leg when I moved from neutral to bullish. I think Apple trades above $700 this week, but like a other companies in this article, I don't believe buying right here at highest prices makes sense. One of the true wonders of Apple is that if you wait a week or two there is likely to be a dip in price. Buying dips in Apple is almost a strategy in of itself. Of course, simple strategies like that work until they don't, which is why it's "almost" a strategy. What makes Apple buying on dips so effective is a combination of several factors. Firstly, Apple's per share price is relatively high for retail investors. While price shouldn't matter because in today's computerized marketplace, buying odd lots (less than 100 shares of a stock in one trade) is easily executed. Secondly, some analysts like Rocco Pendola think the loss of Steve Jobs will result in a relatively quick decline in the company. Even with hit after hit, the mean fiscal year estimate price-to-earnings ratio is 15.7, based on earnings of $44.18 per share this year. I get why people are fearful that the growth story will end, but the market has already discounted the growth. Even if Apple doesn't growth much more than a couple of percentage points a year, shares are not overvalued. AAPL is sporting 39 buy or strong buy recommendations from a total of 40 analysts covering the company, only 1 hold, and none of the analysts give a sell rating. The average analyst target price for AAPL is $780.39. Shareholders receive $2.65 for a yield of .38%. The last reported short interest is tiny. Short interest is 1.2%.