Past price targets for Apple: $99. $120. With the updated quarterly report demonstrating weakness across the board, $80 for Apple’s stock is possible. Why? 10 reasons: 1.Before 2014, Macbook Pro refreshes every 18 months made sense for the consumer. Since then, Apple used more glue, removed features, and charged the same or more…for the sake of profits2.Consumers stopped buying Macbook Air because new models have fewer features than old ones. The high-end Macbook has even less usability, all for the sake of portability3.Apple iPads replace Macbook Pro/Air. iPads don’t need replacement on each release.4.iPhone SE’s ASP may drag ASPs for future iPhone models. Short-term, SE will sustain profit margins.5.iPhones are so expensive now (north of $1000) it widens the refresh cycle from 2 years to 3-4.6.The latest gizmos and company acquisitions (like beats) cater to college kids, not professionals and corporate users7.Apple’s stock price hasn’t moved in four years (buy and hold). Bad news for long-term investors.8.CEO spends more time on left-leaning politics9.Fan base realizing current CEO not delivering on the wow factor.10.Apple Watch, Apple Pay, Apple Music, TV, Retina, iPad Pro* arguably advancing Apple, but company too big to realize their potential at the moment. * Microsoft's iPad Pro is better spec'd. Bonus: P/E 10 not a magic multiple when the ‘E’ is falling.