Apple's insane sell-off

The sell-off in Apple’s stock over the past eight weeks has gotten to the point of being ‘insanely insane’ given the depressed valuation

Apple Inc. advanced the most in almost seven months as analysts said a two-month stock slide is unjustified given brisk demand for the iPhone and iPad.

Shares of Cupertino, California-based Apple advanced 5.8% to US$558.45 at 12:20 p.m. in New York, and earlier touched US$559.37 for the largest gain since April.
Apple, which overhauled most of its entire product line-up ahead of the holiday shopping season, had lost about one fourth of its stock market value through Nov. 16, since hitting a record of US$702.10 on Sept. 19. Despite investor concerns about product shortages, stiffening smartphone and tablet competition and management changes, demand for its products remains strong and the stock slide is unfounded, Brian White, an analyst at Topeka Capital Markets, wrote in a research report today.