I feel so bad for them. They look like a crappy cheap company now! (Which of course they aren't)
This doesn't mean their a crappy cheap company at all. All it means is a flux in the stock. Jumping up to nearly $85 was blowing away all estimates for Apple stock. If anything, you'll probably see it drop a bit more over the next couple days then it will stablize. Lots of people are probably selling at the moment, then will buy again when the stock levels out.
Compared to a lot of tech stocks at the moment, Apple is just following the trend. Lots of Tech stocks are falling at the moment. It's just that time of year after all the profit/lose reports come out and reveal the reality.
What's up ... or rather down ... with Apple Stock?
I would have expected the early announcement of Intel Macs would have pushed the value of the stock higher.
This may be an "explanation" (although, I think they are wrong):
<b><a href="http://www.yourmaclife.com/forum/viewtopic.php?t=1134" target="_blank">Apple Falls 6% on Valuation Concerns</a></b>
"All the good news is out. The easy money has been made," said Robert Bacarella, manager of the Monetta Select Technology Fund, which owns Apple shares.
A few interesting items for Apple recently that may explain the slide(?):
1. A traditional computer company now has the iPod unit making more money for Apple than Macs.
2. Transition to Intel.
It doesn't take a rocket scientist to predict that Mac sales will be slower than normal for the next little bit. Not all machines are available with an Intel processor, Intel has much better chips available in the second half of the year... not all programs are Universal binary.
There is the risk to either believe sales will continue to rise, or not take the risk, and cash out. Who knows if the Google slide of late has some influence too.
I think I was reading in the Globe and Mail that several analysts don't see the stronger numbers coming in till the end of year at best.