Think the intent to destroy perception about AAPL was chance?
Look at comments on major articles, look at the major articles themselves. CNBC, even BloombergTV. Think the info (misinfo) fed and spread was b/c of record iphone/ipad sales? Sentiment is as important if not more important than fundamentals on WS, which of those two do you think can be controlled by the nefarious?
It was manipulated info spread by paid entities. Wonder why you see the same vitrolic postings from members with choice headlines and trigger words? (Slashed, Declined, Dead, Cuts, Losses). Clear as day gang. Rumors/Misinformation was spread at a rate I have not seen in the past 15 years of following apple.
Clear fundamentals are as strong as ever, and with Apple now valued below HPQ and inline with Dell it's clear that sentiment is the answer to why the stock price crashed and that sentiment was intentional and evil.
Apple management standing by and not stepping in, is as bad and possibly worse. Doing the right think does not mean watching somebody get robbed. TC's main motivation is doing the right thing, but he may not have figured out whats in front of him yet.
Just follow the money. Unfortunately media has been the source of misinformation for decades and CBNC and Bloomberg are no exception.
WS crooks have been doing dirty tactics with great companies and have caused lots of wealth loss. Remember when Cramer was saying that QCOM was just a law firm and has no value?. He was telling people to sell at 35 bucks a share.
Or when he said BP is going to be BK in near future when BP was trading in the twenties?.
Or S is going to be BK?. Or YHOO is worthless?. RIMM was going to go to the moon when it was at it's highs?.APPL was the cheapest company even at 700 just based on their PE!!.
I can mentions so many names other names not because I follow him but because I own all these names and thank God I did the opposite and ignored his agenda. Everybody that comes on TV and give you any kind of advice has an agenda which is usually for personal gains. Period!!!.
You hit the nail on the head. aapl pps is about perception, and the control thereof. Apple value is about fundamental value driven by tangible cash inflows. WS could not change fundamentals, so they relentlessly attacked perception.
Why? Many theories; one being that Apple got too powerful in terms of overall stock market weighting and call options were going to bankrupt the option writers - WS could not let that happen. Another is that the content owners were afraid Apple would dictate to them the way it dictated terms to the recording industry. So they used their media to tarnish fundamentals by manipulating perception, in addition, of course, to WS using every stock-manipulation trick in the book.
Where does that leave us IMHO? Fundamentals are fundamentals and they are sound. Apple is not spending R&D billion$ on making better hamburgers. The apple fear-factor has reached it's zenith and fundamentals will dive pps going fwd. Of course Apple will need to continue delivering, but nothing they have done to date indicates to me that they will not.