From a business perspective, Apple is a company with super strong cashflow. It's revenue growth is decent too. The brand loyalty is strong and they have the pricing power. But when we look at the current macro environment, where valuation of companies are heavily cut across all industries, it is hard to justify higher price/valuation. Many strong companies with high growth in revenue and profit, previously are rewarded with high valuation. They have all come down greatly from their highs. Apple had come down similarly and based on its historical PE, it seems that there may be another 25-30% to come down. Not saying Apple will come down that much, but saying there is a possibility. Apple definitely is worth picking up as it comes to the 120s region. Just remember to save some cash to pick up more if it goes lower.