Apple is overhyped and broken. Trading at over 4 x book value with increasing competition does not help. Dropping intel will only add to issues with advancing technologies in competitive android based phones. Next stop is 480. Price to book needs to come down to 2.
It will as long as negativity persists and investors question whether or not best days are behind it. Also as long as fiscal crisis persists, Markets in general will be down and that won't help AAPL's case either.