True, but they also fell whenever an "analyst" predicted that the next quarterly report would show a slowing down of iPod sales.
This always happens. No matter what guidelines Apple gives to the public, the so-called financial experts aren't satisfied. What you are seeing are the profit takers who buy into a stock while enthusiasm is high and then dump and run on the first sign of any type of negative news. Personally I thought the news that 500,000 iPhones sold the first two days was a bit too good to be true. 140,000 activations in the first 48 hours is impressive, and I saw almost everyone at the Apple store I went to that Friday buying two phones.
The stock is just correcting itself falling back to a more realistic level and will rise again as more numbers are released.
I have owned Apple stock for years, and I have no plans to sell now or later. In fact, if it falls to a low enough point, I plan to take some extra cash I have coming and buy more.
it's not uncommon for a product's demand to drop after such a huge launch and demand upon launch. Most people who have long coveted the iPhone probably have one by now. Some people are probably waiting for the price to drop as all phones do. And some are probably waiting to see what updates are made to the phone to further enhance the experience and fix any perceived bugs that the media has been reporting. Sure the demand is going to slow from the initial launch of the product but I'd venture to say it remains steady with most other phones and then picks up heavily at Christmas.
My wish is that these kind of reports further drop Apple's stock to where I can purchase a decent amount of it and then watch it soar after Christmas when sales figures are reported for that time period and upon the launch of the rumored iPhone Nano.