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February 01, 2013 at 14:45 PM EST
Why the Apple Sell-Off Is Only Just Beginning
I've made the case several times that Apple (NASDAQ:AAPL) was overcooked most recently last fall when the company was flirting with $700 per share. Each time I did I was taken to the woodshed by the legions of Apple fans who couldn't reconcile their passion with their profits. Here we go again…following earnings that "beat" and revenue that fell short the company dropped $48 billion or roughly 10% in after-hours trading last Wednesday. And still more on Thursday in early trading. I think this is just the beginning of a protracted sell–off and my argument really isn't that fancy. ...
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