This iPhone is jailbroken. It doesn't mean it isn't using AT&T

Hey, I have no problem with someone (legally) making a great deal of money. But telling me that I can't chose the network I want, after paying through the nose for the stupid thing? Get real. Be thankful so few decided to thumb their nose.

Recently Apple saw it's market cap fall by a massive $70bn. What was the cause of this? The company is remarkably profitable in a notoriously low profit market. They been capturing market share from the other main players in the market and they remain dominant in the personal media player space. They were not forecasting the end of the world.

They lost market value because they forecast a softer Q1, in line with many economists' own concerns about a possible recession. This is a responsible thing for Apple to have done. So did it deserve such a pounding on Wall Street? The short answer is NO. Was Apple stock over-valued? At a P/E of 50 at the peak I would say NO. This is a professionally managed and highly respectable company deserving a P/E of 50 (remember folks that there were P/Es of 1000+ just before the crash in '01!)..

So what we are seeing is typical of a bear market. Analysts are trying to slay Goliath and talk down the stocks on the basis that they will make a whole load more money when the market bounces back. Apple is forecast to rise back to $200 per share within 1 year.

So this little story about a paltry 1m iPhones which 'might' be unlocked out there somewhere is so insignificant to Apple's overall performance that it should be ignored. It is just one of those useless bits of analyst rumor and innuendo which is used to assure that pension funds get smaller so that fat cats in the city can buy that new Ferarri....