So Apple should be fair valued at $70? Do you realize they have roughly $40/share in cash, make roughly $10/share in profit every year and have a roughly $2 dividend/share every year? Please explain how that valuation makes sense. Even if you discount that cash by 35% since it's overseas, that's still roughly $25/share in cash.
In theory, if you could buy all of Apple at $70 which you say is fair value, you'd get $40 in cash back (though held overseas) and it'd take you about 2.5 years to get your purchase price back. So if you could buy Apple outright at $70/share, you'd have your entire investment dollars back in 2.5 years if there was no growth at all. Please find me an investment I can make where I can get all my money returned in 2.5 years and still own the entire company.