Strong breakdown and valuation from a bearish vantage point (which is, of course, useful). As others have noted, this presumes that AAPL cannot further penetrate the Chinese market, and does not have any more innovation. These are two assumptions that are faulty. As such, I view this bearish article as being a 'worst case scenario', and in that light it's a useful exercise.
How Much Is Apple Worth? [View article]
Criteria To Consider For Apple's Q1 FY13 [View article]
"Apple reports that the orders for components to make it's iphone5 are down 50%. "
Apple did not report this. As such, your post advocating due diligence is based on a false premise.