So this explains why AAPL is down $70 over the past month ... !?

I will never understand the fscking stock market.

The market is currently far(ther) from rational given the lending side issues and related "bail out" package.

Well, depending on how bad it gets before it gets better, ATT might find themselves with a whole pile of turned in iPhones b/c people couldn't afford the plans. Hopefully the vast majority of the iPhone users could afford the plan and will be able to weather the economic downturn well. I'm sure we'll soon see a report indicating that Apple has drastically reduced iPhone output soon. I myself have been pining an iPhone and have just been waiting for ATT to move into VT, but I find myself questioning the purchase more and more. I haven't talked myself out of it, but I'm sure my consideration is not atypical of soon-to-be-purchasers. Good for Apple that they sold so many in the short about of time that they did. Their bank account of $10 billion will definitely allow them to get through this downturn. Heh, Apple actually "has" a savings account.

Apple isn't just the iPhone, and since iPhone sales are 'subscribed', they only add a small amount to the bottom line per quarter, vs. a huge hunk.

And since EVERYTHING is down in this market correction, trying to figure out why any one stock is down is useless.

Great, I can expect to take another 20 % hit based on my investment.

It doesn't matter how many iPhones are sold this quarter, Apple is still screwed along with it's investors. I figured it would be a waste of time counting serial numbers when the whole U.S. economy is being flushed down the toilet due to irresponsible loan officers and criminal lending practices.