How is it possible AAPL is being punished and great earnings by all accounts? And what's the P/E (w/cash) like 15? How cheap can AAPL get? Cheaper than Oracle (which is also a great company).
While companies with high bubble P/E are getting pumped higher? Is this stock game rigged or what?
If it acted like a growth company with strong cash position, we should be at $350 already!
Maybe the stock price is too high for small investors (holding 10-100 shares ain't going to do anything). Maybe its time for a stock split so big traders can't manipulate the stock and small investors feel better pulling the trigger to buy. What do you say Mr. Jobs?
I have always been against a stock split for AAPL. But now, seeing the game being played by hedgies, shorts, and the media supported by the competitors, an AAPL stock split (3 to 1) is perhaps a good answer to these manipulators. You have to kill 'evil' with 'evil'. I remember when RIMM (during its hey days) split 3 to 1, it took only a couple of months time for it to come back to its pre-split price.
I think you are right but I think there is hesitation for two reasons:
1) AAPL is relatively big now that when the market in general is sour it is hard for AAPL to break loose like earlier.
2) There is still concern over the antenna. It has cast a bad reputation over the phone and will take a while to clear. Investors wants to see that sales aren't affected. Very bad timing though with Copyoid picking up momentum.
Large volume traders, in low volume, manipulate the price. Imagine 2 people next to each other, one puts in a low buy, the other a low sell. They walk the price down, sometimes working the spread to make a little back. As they walk down the price in low volume, long options calls are sold in bundles, further lowering the price. Those big bundles are instantly nabbed by these manipulators.
When you see a bid go up, and then the ask (seller) go down, you know something is wrong. Wait until reports of Apple moving into 17 countries, (China tomorrow) reports are out. Wait until back to school purchases and summer holidays are back in late August. Then real volume will be there, which is a reflexion of widespread sentiment.