Apple Cored, Drops Under $400: Lowest Since 2011

Apple has broken the 'magic' $400 level for the first time in 16 months as we probe for the next generational low in this unbeatable stock amid chatter that iPad-mini shipments for next quarter will be down 20-30%. Apple is down 43.5% from its 'generational high'. Now cheaper than an iPad2, but less tasty, it appears more than a few 'smart' index-tracking momentum-monkeys are jumping ship heading into earnings. With AAPL down around 5% (the biggest open-to-low drop in 5 months), anyone who bought the stock in 2012 is now underwater...

 

It appears the 'bubble' has burst...

 

 

Who coulda node... its never different this time (oops and oops)

 

Chart: Bloomberg