The world is in a bearish funk right now and Apple is just one stock that just can' sell enough smart phones. They are able to spend billions giving to investors that have nothing to do with the success of the company, but should be spending on research for new products.
I would rather seem they spend money on a big logo on a SpaceX rocket than give the money to shareholders. Apple could finance a trip to Mars and back, I stress "and back"
,out of petty cash.
But those are just my personal beliefs and have nothing to do where Apple's price may go next.
If the entire decline has been a diagonal, then we could see a big rally in Apple and all other stock indices as well. The VIX and HDGE being as high as they are, Apple has no choice but to rally.
How high nobody knows at this time because nobody thinks stocks will rally anytime soon. They are all waiting for that magical 20% bear market
number. It's a great magician act that the bears distract you when you should be watching for a potential bullish hand to be dealt.
The Apple chart is riddled with gaps with many small ones above present price levels and a few big ones still open up closer to the top. It would eventually take to the $120-$130 price ranges to close all the gaps. That is a tall order and may not be achievable at this time.
The gold/apple ratio at present is about 12.5:1, and at a peak in July 2015 was about 8.8:1. Until someone tracks it on a consistent basis, we still need to establish some better extreme numbers. The secondary peak in early November also hit an 8.8:1 ratio. This gives us a reasonable set of parameters for tops, and it seems that the 12:1 ratio, works for the bottom in August 2015 as well.
All sorts of fundamental induce news is used to justify the Apple stock crash and all of them will be forgotten once Apple starts to rally again.