Fair value has been anywhere from $18-$28 this year based on...

Fair value has been anywhere from $18-$28 this year based on market sentiment, currency, and portfolio performance. It changes on a monthly basis. With a stock like this you're essentially paying for your trust in the quality of the management, and general macroeconomic trends. A typical cash flow valuation method is fairly useless in this case.If we got a rate cut I wouldn't be surprised if it hit $25-26 by the end of next month. The only thing significantly holding it back at the moment is the Aussie dollar, and as long as Microsoft and Apple come out with somewhat decent earnings I would still be quite confident in this stock.