FORTUNE -- In the fall of 2000, when you could buy Apple (AAPL) for $7, the stock's value measured by how much profit it was generating for each outstanding share -- the famous PE ratio -- hit an all-time low of 5.76, according to Wolfram Alpha (see chart below).
On Friday morning, when the stock touched $385.10, Apple's value hit a new low. With $137.1 billion in cash and marketable securities as of December, Apple's PE ratio ex-cash hit 5.42