It was logical and to be expected that there would be a temporary pullback as the stock transitioned to a new crowd. When you do your Christmas shopping, you don’t buy as easily early in the season because you know that there will probably be lower prices closer to Christmas. It was the same principle with the value fund managers, who didn’t want to jump on Apple stock until it was cheaper.
I predicted that once Apple stopped dropping and the value funds started jumping in that you’d see a slow but steady climb. That’s exactly what happened. I even predicted that Apple would bottom out at $90. That part was luck.
Does the Price of AAPL Matter to Apple?
AAPL’s Time in Purgatory