Is the Apple Still Rotten?

Apple.  One of the best companies and best stocks over the last 5 years bar none.  The stock has gotten crushed this year, dropping from $200 to around $115.   The million dollar question is whether Apple will be a leader for the next 5 years.  Technically, the stock seems to have support around $120.  The intensity of selling has lightened up.  The MACD is turning bullish.  The next catalyst of the stock will probably be the earnings report middle of next month.  The company is trading at only 21x forward earnings with a earnings growth rate of at least 50%.  Smith Barney has it as a priority buy.  I think Apple will once again beat 1q estimates handily.  MAC sales are rocking and there are rumors of the 3G iPhone this summer.