AT&T isn't going to let their customers go that easily. Perhaps Verizon had lackluster sales due to the early termination fee. The sharp drop in AAPL was probably due to the hype surrounding the Verizon stores, and when there were no lines, traders jumped all over it. I didn't buy AAPL, but I am long T. From the web: "If you're still under two-year AT&T contract when you decide to switch, AT&T will charge you an Early Termination Fee (ETF), a penalty for canceling your contract early. AT&T's iPhone ETF is $325. That fee is reduced by $10 for each month you've been under contract (e.g., if you've been under contract for 6 months, the ETF is reduced by $60, to $265). If your contract has expired, you're not subject to an ETF, so you'll want to check your contract status with AT&T before beginning the switch."
Do you trade frequently? Because if you did you would know that sometimes sharp intraday drops trigger sharper intraday drops. Keep buying it. Buy more. Buy more. It HAS to bounce. Right? It will...keep holding...until you get tapped on the shoulder. And you're done.
I don't know why I seemed to be attacked again and again on my comments. Here is my AAPL trade on the hick up. I didn't buy the low. I wish I did. But I shorted the bounce from the low. A $1 scalp in 15 seconds. I haven't seen that kind of quick moves since May 6 last year. Opportunities don't knock too often. When it does, take advantage of them. I am not a yahoo sim trader. I trade for a living. Of course I manage my risks. Today I didn't want to go all out not sure what's going on.
For clarification, are you implying that the stock may have dropped due to some other rumor/news, perhaps relating to Steve Jobs? Volume today was much higher than normal.
wsj out tonight with piece detailing Jobs working from home. I think the VZ story shines the light on the coming competition for smartphones and tablets. They all look pretty competitive. Android phones definitely have the buzz goin.