Apple stock plummets to $400/share as iPhone sales slump

[deadrats]

http://www.dailytech.com/Apple+Stock+Dips+to+400+as+iPhone+Inventory+Climbs/article31834.htm

it's kind of funny, i was one of the suckers that bought into the whole "Apple stock will hit $1000/share" though i was lucky enough (not realizing it at the time) to not buy any stock.

the funny part is that i have since reversed my position and believe that Apple's stock will go even lower, possibly hitting $350/share, so of course that means that it will probably rebound back up to $500/share, lol.

[Hoser Rob]

That whole "Apple stock will hit $1000/share" type of talk is based on investors assuming that they will continue to put out game changing disruptive products in the near future like the iPod and iPad. Any massive rise in share price assumes a massive growth in profits in the near future.

They recently released a new iPad with a smaller screen, which they had said they would never do.

Their next big new products are rumored to be a cheaper iPhone and possibly a new tv hub. Apple TV hasn't been a huge success in the past.l

It's looking like that bet placed by paying $700 per share was wrong.