I think there's a mix of investors, but too many invest with passion. Those are the ones that get burned. They are stuck complaining about manipulation after the fact. If there was any manipulation, it is not in analysts using FUD to drive the price down. The biggest drops in Apple valuation have been when Apple reports actual numbers. The manipulation would have been when analysts irrationally drove the price up to the $700 range without the numbers lining up- but you can't really blame the analysts entirely right because the rising stock price was 'proving them right.' Nobody was complaining about that while they were 'making money' on Apple shares. People loved the company, and they bought a lot of shares.... that drove the price up higher and 'confirmed' that Apple stock was a winner and so more people bought into it. When it is that exuberance that is driving shares up more than actual sales numbers its time to get the hell out. In the end, Apples actual sales are indeed stellar, but not $680 billion stellar (which is I think about where the $700 stock price would put them).