Shares in the fruity cargo cult plummeted after investors realised that while Apple was making stonking profits the writing was on the wall for the outfit.
Apple is expected to see its Chinese market slump and it still has not come up with a new product and it is dependent on smartphones which are also slowly dying.
After telling the world that Apple's results were wonderful, the Tame Apple Press has started calling the quarterly results "disappointing" it seems to us they should also be issuing an apology for sacrificing their creditibily by talking up the results instead of looking at the bigger picture.
It seems that those who do look at the figures are dumping their shares. Recent declines have wiped out nearly $100 billion of Apple's market value.
Strategists pinned the sell-off on the steady run in the shares, as the stock has gained more than 137 percent since hitting a low in April of 2013. In addition, more than 5,700 different funds already own the shares, according to Morningstar data. With Tuesday's declines, the shares have dropped 13 percent over the last 11 trading days.
Mysteriously Fanboys have been visiting news sites to post comments about how much money they are making from buy up Apple shares. We are not sure how they could be doing this as anyone who has invested in Apple shares since the quarterly result was effectively losing money. We have a couple of postings on this site where Apple fanboys lie about how much money they have made from their Apple shares since the announcement of the quarterly results. We guess they are trying to talk the market back up.
One New York analyst declared that Apple stock was over owned and was suffering from its own momentum meltdown.
All those investors who saw doom when tablet sales started drying up and all Apple had to offer was the iWatch and flogged their shares have cleaned up.
What is particularly funny are all the investors who actually believed the Tame Apple Press when it told them that the iWatch would be huge.
According to Reuters fretting over the newest Apple product is also common among investors.
