Sadly, it's going to take AAPL about years to fix this problem by buying back more and more of the float. Then when no one believes in it any more, it will release a new "wow" product and the stock will rocket higher. Based on the dividend and valuation, the bottom is most likely somewhere in the $400 range.
It's not about how much money a company makes, it's about how it's "growing". AAPL is so expensive and has reached such obscenely large numbers, that it is impossible for it to do what Wall Street wants it to - grow exponentially like it once did. And as WS screws AAPL it won't even do it the courtesy of a reach around and let it's P/E decompress so it trades at least around $600.
This is exactly the kind of bs metric shorts use to try to scare buyers in order to gain short term gain.
You are looking at another $9 billion next qtr. iPad Air this Fri. Holidays. More continue buybacks from Apple. And god knows what else Apple has in its plan. Apple is fine. Amazon is overvalue. Go with the company that actually makes money & beat numbers.