It is a bit sad, how some of you people turned to insulting others rather than making your point by bringing up arguments.
My opinion here: even if you have just one stock, or even non, you're entitled to have your opinion on the stock performance and you might even know much more about it than someone holding 1000 stocks.
That being said, most of you here seem to make the lack of innovative products being responsible for the poor performance of AAPL.
I think it is a combination of both, a bubble that has been built up prior to this decline (400 -> 700 in a few months) and no blockbuster NEW product, that opens up new markets.
Then again, Steve would have never rushed a product out just to keep the stock price up. It was released when it was prime for the market. That's why he didn't just release an iPhone in 2004 (3 years after the iPod). It took time to have the right technology in place.
And if that means to wait 10 years for a new product category at Apple, i'm gladly waiting, as long as the company is financially stable and making good profits. In the long run, that secures success. If you rush out half baked products just to react to your competition, that would destroy Apples image.
They believe they have the best smartphone, tablet, ecosystem out there, and I tend to agree with them. And I don't see a mistake of Tim Cook if he follows Steve's advice in chosing wisely what you bring to market. And when!