AAPL is up about 30% from Nov. 20th, the day the market hit its first panic low, and up almost as much from the time I recommended it in mid-January. And that's despite the disappointing news that Steve Jobs would take a medical leave of absence. Apple's strength lies not in the virtues of one person, but in its passion for excellence, industrial design, and ability to innovate in the area of consumer electronics. Apple has been gaining market share from Microsoft in the personal computer market for years, and is very likely to continue to do so for many years to come, in my view, mainly because its software is superior, and its computers will run Apple software as well as Microsoft software. That all adds up to a reason to own this stock for the long run.
Full disclosure: I am long AAPL at the time of this writing.