Current price takes into account future growth not just current...

Current price takes into account future growth not just current earnings/price. If history has taught me anything it's that p/e ratios can sharply rise or fall at the drop of a hat. After they fix their operating issues in this "transitional" year we can expect earnings to return to previous highs. In this regard, the current PE is fair if not undervalued. Of course what is "undervalued" to some is not to others and this is why there is a market to buy and sell shares. There was a seller on the other side of my buy today who must have thought they were going out of business so I took advantage of them