That there is nothing wrong w aapl. It's all the d@# cliff. I expect weakness and profit taking in all stocks through the end of the year. Next year we will face the reality of higher taxes and establish new positions in this and many other great companies. Aapl will see 600 again, maybe 700 and beyond but not while people are locking in gains and a lower tax bracket now. It's not about forward PE or sales of phones and iPad bc those all look great. It's not even about no new innovations bc aapl will innovate and sales will continue of new and existing products. It's the d@# cliff.
I think it is negativity. I don't think it is tax selling because most folks don't own AAPL at much lower prices. Besides if people want to lock in their 15% cap gain rate, they can simply sell the stock and buy it right back. Wash sale does not apply to gains.
The wash rule only applies to realized losses; not gains. I don't know why the folks on CNBC often don't know or don't mention this. Anyway one can sell and rebuy a min later in order to claim ones gain in this CY.