by Adam J. Crawford, Casey Research:
When the market turns against a stock, watch out. Just ask Apple investors. From its peak just seven months ago, Apple is down over 40%. That’s an incredible move for a company of Apple’s size.
Several factors have contributed to the decline, including: management departures, low-cost competition, and concerns that Apple’s well of innovation may have run dry with the loss of Steve Jobs.
Each of these factors is cause for concern. However, healthy skepticism can quickly give way to a herd mentality, causing an overreaction in share price. Could that be what we’re seeing with Apple?
To find out, we decided to take a look at the prospects for each of Apple’s major business segments.
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