Apple dropped from $205, to $180, to $160 rather quickly.  I thought that $160 might be the bottom, so I got in there.  However, I was wrong, and it fell to $120.  For the past few weeks, it's been bumping along between $119 and $133.  Basically, I only have a few shares, so I can either 1) sell for a loss and put the money into a better stock so that I can make my money back or        2) keep holding the stock waiting for it to go back up. 

They announced a price drop on the iPod shuffle.  I thought this was good news because I think the iPod market has just about reached saturation at current prices.  Sure, they're still selling, but it's time that the cheaper iPod models start competing with the likes of the iRiver and CreativeLabs el-cheapo players at Wal-Mart.  With this cheaper price, loads of people will probably pick the cheaper iPod now over the other bargain mp3 players.  The two gig model of the shuffle for $69 also seems like a good idea.  However, the stock still hasn't seen a boost.  In fact, it went down today.  I'm hoping that we'll see the $160's again by summer. 

I generally stay away from "hot" stocks like aapl because "hot" stocks tend to have inflated valuation, and there's a bubble that tends to get burst - just like what happened to Apple. 

Also, I'm not sure what the proper valuation for AAPL should be.  If I remember correctly, they have zero debt and are still making loads of money.  Guidance was conservative, and the market didn't like that.  ...but basically, I'm a little aggravated that they haven't broken out of the $120 to $130 pattern.  I'm tempted to buy at $120 and ride back to $130 and sell.  The "riding the wave" style of trading is one of my favorite methods of making money.  But, well, AAPL is a little to large cap for my blood.  With a limited amount of funds, I can't risk sticking it all in a few shares of aapl.

anyways, there's my take.  I expect aapl to break out sometime in the next couple of months, but the waiting sure isn't fun.