This new exercise has the following goal : what is expected in fact so that Apple is worth only $301B right now ?

I plug in mean analyst predictions for the period FY2011-FY2014 (all that is available) and I continue for some years until they have some negative growth; at that moment they cannot justify no dividend any more so we may assume a one time dividend of basically all the cash. I compute with the interest rates (that I guess) to obtain today’s value of this future dividend and assume there is no extra value baked in the shares.

Conclusion : today’s AAPL price implies a future that looks something like this