A few weeks ago I started buying Apple again below $120. I had sold it back at $140, down from $200, after years of riding it up.
It is no longer in a long-term uptrend for sure and it’s an extra dangerous time to own broken, expensive stocks so we will see. Companies can be great with their stocks drifting downward. The mood is shit and that’s what matters. Apple growth is NOT getting the benefit of the doubt.
If the mood changes and people fall in love with Apple’s growth story once again, the stock could gap 40 and not look back on any good news. Time will tell.
Moving in the right direction is Apple’s SDK launch. I won’t bore you with the importance and it’s off the shelf goodness, I will let somebody smart do it .
You can also read FAKE Steve Job’s glowing report – The REAL one probably really thinks the same thing :) .