I'm using my discretionary funds on Robinhood and wondering what everyone's thoughts on Apple stock now? They shed something like 6% after reports the new iPhone wasn't selling like previous versions and another 3% when they reported lagging iPad sales.

I bought two shares at $97 (yes, Rich CBers....2 shares. I don't have a lot of "play" money!) and I have another at a daily stop-limit order at $94 which I'll reduce to chase any further declines. As long as it is $<100, I'm considering adding to it as funds become available. I usually don't have the patience to go long and play my robin-hood account more as a daily-trader (holding stocks on average for a week or so), but I have a few which make up the foundation of my Robinhood portfolio that have decent long-term value and dividend appeal: (T, CIG, and HD, primarily).

Back to Apple, the P/E ratio is only 10.6, they have a 2.22% dividend, and their income is solid. What am I missing here? This seems a great opportunity to start picking up shares and go long. Or do you guys foresee it dropping further?

The shedding of all that value seems to be a knee-jerk reaction to me.