Apple has the second highest market cap in the world?

Apple, Inc., currently trading at 250 per share, has a market capitalization of $228 billion. The highest valued company in the world by market cap is Exxon Mobil which is currently at $273 billion. Mind you Exxon is the biggest oil major which produces a COMMODITY which is used by all people all around the world. Apple, on the other hand, makes a stupid consumer good which is NOT a commodity. I find it hard to believe that a company which makes a consumer gadget can have more value than JP Morgan chase, the largest bank in the US, or Walmart, which has 2 million employees worldwide.

Apple's latest annual earnings came out at $8.1 billion. 228b / 8.1b = 28. Apple has a market cap that is 28 times its earnings. Im sorry but that is one horribly overvalued company. By comparison, Exxon market cap of 273b / 19b in earnings = 14.3. Exxon, the world's largest ENERGY producer, is valued at 14 times its annual earnings.

Walmart, $184 billion in market cap, 14 billion in earnings, market cap 13 times its earnings.

I have been entering short positions on Apple since its highs of 270. I expect the stock price to fall hard alongside the general market. I can easily see this stock trading at $125 per share.

Ask yourself this question: would you buy a company that was earning $1000 per year for $28,000? Because when you buy apple at these levels, this is essentially what you are overpaying by.