Here is reality for those who look for real answers on this board
AAPL has gone down way too far. There are a few idiots who are shorting the stock and have multiple screen names and try and scare you to sell because they think they can effect the stock. They cannot. Reality is aapl will trade in a very narrow range but is heading slowly higher right now and waiting for many many good positive news coming very soon. The new range is $428 to $438 (Plus or minus a few dollars). AAPL will be up substantially very soon and over $500 easily because they definitely are announcing the share buyback this month and time is ticking. They also have new category products expected to be game changers those will be out soon down the road but definitely in 2013. They will undoubtably raise the stock substantially. Right now is the best time period to buy especially on days like today. Tomorrow will be up but probably still good to buy.
No retail investors are shorting this stock. Even with Margin, you can short only a few hundreds with an unlimited risk, unless you have bought calls to cover. The strategy does not make any sense too. Remember AAPL is a crowded trade and it can run anyway. The stock price and the company's performance are not in sync and will never be unless there are huge buybacks. Only a small group of hedge funds are playing this.The Market dynamics have changed in APPL and hedge funds are in control below $500. Before this institutions were.. They will run up the stock on a rumor to sell and follow it with a downgrade to cover. Sell calls and puts but keep the stock in a leash so that they expire worthless. It will work till next earnings. The institutions have bailed-out, i.e whoever wanted to run the momentum on GOOG/LNKD/AMZN/PCLN. Until real news and a good vision from TC, the stock will trade sideways. To add to this excitement, there will be mini-options from next week and many will write covered calls or mini puts.
The real test will come 18-months from now, when people look back at the missed opportunity to get in at these depressed levels.
Yes, I sold on the way down and purchased again at exactly $420 per share and I'm holding for the long-term, no matter if we have a correction or not.
When doom and gloom is predicted, that's the time to get in. Jefferies missed yesterday's run up, so they downgrade the stock to $420, which is my exact entry point. Why downgrade with that price unless they are just attempting to depreciate the stock's near-term value so they can load up.
Btw, Jefferies failed to mention if that $420 price was pre or post split - I have faith in this company and its management team. Soon all the b.s. will be off the table because the company will announce soon their plans for investor returns!