Apple is just over overowned.
Nobody owned it until it hit $170 on the way to $200. By than it was a foregone conclusion to the media. Apple could do no wrong. Every mutual fund had to have it on their sheets. Same mechanisms at work on Wall Street all the time. Just change the stock symbol…
There is nothing wrong with Apple, THE COMPANY. NOTHING! In fact, the quarter was just wicked good for MAC shipments .
There is something wrong with the stock and the people that own it.
Now you have something called OVERHEAD SUPPLY which is ‘beacoup’ shareholders underwater with their buys.
Throw in a miserable stock market mood, a ‘sick’? Steve Jobs and you got yourself a reason to SELL.
Just wait until the options backdating scandal rears it’s ugly head again. Actually, don’t wait. Unless this stock clears all-time highs, there is really no reason for the average investor to own shares. Too messy, despite it’s greatness.