I'm long in apple for several reasons:
1. Apple's P/E is way to low for a company that literally sells the best and highest rated products on the market. Historically you pay a P/E _premium_ for these types of stocks, not a discount. The company is downright cheap.
2. ApplePay has a ton of potential. Just in the other news thread others were complaining that moving to chip & pin cards is basically just changing the fraud, not fixing it. ApplePay's tech passes the smell test, and the people who will be using it have expendable money.
3. The Apple Watch. Who knows how it will sell? I will say I am always impressed with Apple's design and polish and it's hard to picture a crappy product. Maybe it's a hit or maybe it just raises their bottom line, either way it's unlikely to drag on profits.
We'll see how it works out. These earnings include only 6 days of iPhone 6 sales... I worry about Apple in my portfolio probably the least compared to other stocks in the S&P 500. It pays a dividend for crying out loud! I have to remind myself not go over diversification rules...