23% was unsustainable, but look at GOOG's 40-50 pt range after their 2 for 1 split. Now it's trading at nearly one year lows on vola on a $90 spot.
It will take a few months to see if AAPL's surface has really changed and if I can find opportunities in it. I think it will become more like a DOW component or a large cap tech stock (MSFT, ORCL, etc). That will remove a lot of the opportunities I saw in the name. Frankly, after 2012, I saw the surface of AAPL change. It reminds me of MSFT around the time they did the TSO transaction. The split may be an impetus for the surface becoming "normal" but there are other factors as well. When AAPL was a $120 stock in 2007, the surface wasn't dissimilar to when it was a 300 stock in 2012 and even a 500 stock last year.