Buying Apple at a P/E of 39 is a tough call in the short-term, but I'm going to increase my position to 4% of the portfolio (my new target for buys, 8-10% is my target for strong buys).
What complicates this further is the action of currencies. The Canadian Dollar, which much of my portfolio, though less of my cash is denominated in, has risen 11% in the last 3 months. I'm not so worried because in the long run the Canadian dollar has more to go, but Apple will do better.
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