Though analysts have come to its defense this morning, Apple (AAPL -1.9%) can't catch a break -...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Though analysts have come to its defense this morning, Apple (AAPL -1.9%) can't catch a break - shares now trade at 8.2x FY13E EPS (exc. cash). The decline comes as signs emerge Apple is taking new steps to vertically integrate: Digitimes reports Apple is now directly placing orders with material suppliers, who traditionally interact with manufacturers, and Horace Dediu theorizes Apple may have invested ~$2B in Sharp's display production. He also notes Apple's off-balance-sheet manufacturing/component purchase commitments have risen to $21.1B.