$AAPL - Apple zombie apocalypse tomorrow in the markets, as the fruit company's earnings disappoints. This is the stock everyone loved. Everyone had to own. When the stock price hit $705, the chants of "$1000" were deafening.
Oopsie. The stock price dropped over $50 in the after hours. Apple Inc missed Wall Street's revenue forecast for the third straight quarter after iPhone sales came in below expectations, fanning fears that its dominance of the mobile industry was slipping.
Well, the upgrade cycle is slowing down. Who needs to go from a 5 mexapixel camera to an 8 megapixel camera? Now that the iPhone has LTE speed, what's the next real catalyst for an upgrade? And say, isn't the Android hardware better? Apple TV is a flop. What's next? The Mac Books are nice and the Mac Airs are nicer, but do you need that AND an iPad, or is the PC world still, uh, PC centric?
Anyway, tomorrow will be interesting. The NDX has been held hostage by Apple this year. Maybe the price drop will result in new weightings for the index, and something more "growthy" will get higher weightings.