There is one thing that investors hate most and that is UNCERTAINTY.
There is some serious concern about the health of Steve Jobs, leaving as he did only adds to its seriousness. If the issue was minor, information would have been made available to the public. The fact that it is hush, means it is SERIOUS.
Is it not IRONIC that Jobs has built this company into a monster and, now the one thing that can bring this monster down is one of his own inventions.
The IPAD, a low margin product will loads of competitiors, is making the MAC and Iphone obsolete, which was their money makers.
Sometimes innovation will destroy other products one did not intend to have affected.
If you were a new buyer, you would buy an IPAD since it has bigger screen with applications and is much cheaper that MAC. You would also forgo the iphone since screen is too small and you prefer with a local and cheaper cell phone provider, just for calls.
Make no mistake that institutions are indeed selling a portion of their Apple stock. If all institutions sell just 1% of their Apple stock, we should see a severe drop.
All investors are unanimous on this one issue, Apple stock which is richly valued is an extreme risk without a Steve Jobs as boss.