I am long apple too, but - 1. The P/E is low because of the future growth potential. Investors don't think it can grow at this pace in the future. It's not lik

I am long apple too, but - 1. The P/E is low because of the future growth potential. Investors don't think it can grow at this pace in the future. It's not like a Coca Cola which grew earnings consistently in the double digit percentages over decades. 2. ApplePay has a lot of potential, but not in terms of moving the needle in earnings anyway. A billion dollars here and there isn't enough for Apple to significantly improve earnings. The company is just too big. 3. Same as 2. The market will price the stock according to the risk it perceives. If you think you know the business better than the market, only then trust your own analysis and declare the market to be wrong and your analysis to be right. That's what value investing is all about anyway.