Apple's Best Days Are Past

Apple (AAPL Quote) scaled the lofty heights in 2007, turning the Cupertino computer and gadget maker into one of the hottest stocks in the tech universe and broad market. Its dramatic fall from grace in the last seven weeks has shocked loyal investors and forced a sober reexamination of the growth issues facing this widely held company.

It's no coincidence that the stock hit an all-time high on Dec. 27, or just three days prior to year-end. Legions of money managers held tightly onto outsized positions of this Wall Street favorite that buoyed their annual performance after a miserable year. The flip of the calendar gave them the perfect opportunity to take profits and move on to other investments.

The company has generated a near-cult status in recent years that's hard for outsiders to comprehend. To offer full disclosure, let me confess that I'm an Apple agnostic who doesn't really care about the company, one way or the other. I think that's a good place to be, because buying or selling this stock at the wrong time can be hazardous to your health. ...