Sell Apple, Google

Two stocks I think are overvalued: Apple (AAPL) and Google (Goog).
They were both down during this past trading session; expect more of the same. The unreleased iPhone has priced itself out of the market at $499 for the 4 GB model. Furthermore, the 52 week range is $50.16 - $127.61. At the close of the market, Apple ended at $121.55. There's reason to believe that the price will decline as more bears flood the market. I expect the stock to retreat to under $100 over the next few months.
As for Google, the stock is priced above $500 with a P/E of almost 45. I think expectations are too high and the downside risk is too large. Google closed Wednesday at $509.97. My target price is around $400.
As we enter the summer months, stocks tend to under perform. Sell them both.