My cost basis in AAPL is over $500; still think overall biz is intact and they will do a better job managing profitability going forward. Nonetheless, the weakness in iPhone unit shipments pointing to a share loss is concerning and if AAPL wants to really capitalize on Chian and emerging markets, they’ll need to roll out a lower end device. This lower-end segment will be the fastest-growing one but iPhone won’t get them there. Otherwise, it needs to pick up more carriers. Anyway, I still have faith that AAPL will get it done and I think the last couple quarters are really just a harsh reality check for the company. I won’t buy back in at $450 because I think there are other stocks with a better risk/reward profile at this point, but it’s still a long-term holding position for me and I’m not going to dump my shares on a bad quarter.
BTW, just talked to a buddy and found out that Viking and a couple other big time funds were short AAPL, so no big surprise that shares are puking today.