Don't underestimate the intelligence of APPLE board
I think that APPLE board has a plan:
#1, they don't want to shoot in the water
when the stock was at $500, it would rise to $590 to $610 if they had announced one time special dividend or more shares buyback, but the stock would not stay there, it would go down 2 weeks after announcement.
What APPLE board wants is that when they announce dividend increase or buyback, the stock price appreciation would stay and they will give the stock a solid bottom. That's why they have waited. What were they waiting for: AN INSTITUTIONAL DEMAND POINT= $420
It's very possible that some announcement is imminant. Institutional investor support with the announcement will move the stock back to $500 level, and the stock would never go below $420 in future and thus give APPL management credit to set a bottom
#, they want to do several shoots one after one:
a. announcement of share buyback/dividend
b. in a week, China Mobile deal
c. two weeks later, I-TV invitation
That's why .Einhorn now is silent. He's buying more shares. Any suggestion that he will sell at current level is stupid!
The other Funds (most of them) wont be selling at this level either; the smart ones are accumulating ((if it doesn't exceed max percentage of folio). and Dividend Funds are buying too... its the knee-jerk reactive traders (working for Funds), who have sold!! Apple will see its day, this Spring, or later this year!! Watch and Learn...
One sign that APPLE management is getting serious about the stock price is that they now require TC to hold 10times of stock as compared to his base salary and others to hold 3 times stocks than their base salary. A good sign that they think the stock is at bottom