I think you may misunderstand capital gains. If you've owned the stock for over one year, your gains are taxed at 15% -- less than one year and you are taxed at your current income tax rate.

An exceptional year no doubt...

Too bad that Wall Street prices in growth in profits and revenue long before the actual earnings report. You've heard the phrase "buy on rumor, sell on news", which is also applicable in this situation. The people who actually move the price of stocks know long before the guy on the street.

I've been active in the stock market for years, got burned by trying to day-trade in the late nineties, although not too badly. I only buy in the intermediate and long term now. My best single piece of advice, and the source of my success ever since -- don't buy stocks that everyone (analysts) is talking about, like Apple. Moreover, focus on growth industries. Seems like alternative energy like wind and solar, LED tech., nano materials stocks, and health care are good industries in which to "cherry pick". A more risk averse investor would just wait and see where this bear market ends and dump some money into indexed mutual funds or ETFs. What you shouldn't do is try to time the market, particularly individual stocks.

I wouldn't buy a stock that I didn't feel comfortable owning for more than 5 years. In that respect, Apple isn't such a bad buy. If you don't like risk and volatility, stop paying attention or move your money to funds instead of individual stocks.

the correct phrase is "couldn't care less"