Have been playing the short side since Nov for a tax and exceptions hit, which we got and more. Covered all shorts and added a core for a long, which we plan to add a tranche or 2 soon. We anticipate an increase in the div and buyback at the Feb BOD, and a sell on the news on the RIMM launch next week (cover of a long $RIMM/short $AAPL pair trade.)
No idea is if $450.66 is the low, but it feels cathartic to us. And we have dry powder to add on key technicals.
Still, for us to be long term holders, we need to see $AAPL do something with all that cash. Fast.