This stock is broken and with buyers between $500 and $700 wiped out there isn't the money out there to give this thing support until it hits $400.
The value is there but when a stock is broken like this there is nothing to hold it up. It will be back but it will take at least 3 months of pain before it begins to turn consistently higher. Even then it will take an announcement of a "new" product or a China Mobile deal.
Tim Cook could have down shareholders a big favor today by announcing a large buyback, a larger dividend, or even hoard the cash and do a 5-1 split but he didn't do anything except make excuses. Wall Street doesn't want to hear excuses when you have $137 Billion in cash and you aren't doing anything with it.
$225 Billion wiped out in shareholder value since September and it looks like more pain is on the way. This is why insiders don't hold many shares and cash in their options immediately. They didn't see the value so they were bailing on shareholders the whole time.