The people who are selling is key here. We know from the annual shareholder proxy that 27,450 holders of record. I doubt very much that those holders do much other than just tuck the shares away. That leaves the volume completely up to retail traders and their ouiji boards trading without fear in front of the fundamentals and massive buyback. That seems very illogical to me. I can only conclude that 2 separate computers both with massive funds have been manipulating AAPL stock and more than likely the entire market.