when steve jobs died, there was an intital drop for a split second in stock value, then the new ipad release was dated and people continued to invest. the (ipad) can only be improved upon so much. just as the automobile industry can only put so many cars in every garage in the world. (working at subaru makes you wonder why we ship more cars to canada and other countries than our own). cars to electronics arent the SAME ideas, yet the principle values are there. how many ipads and ipods do you sell before everyone has one and the "hype" has died down? the only thing holding the stock value up in my opinion is the (our next model will be thinner / faster / easier to use / etc.) you reach a point where it is enough for the median family to use day to day. hence the ipad 2.
remember. these are all my personal opinions and thoughts on apple. please inform me of any discrepancies.
I understand what you are saying but we don't know what is coming. Ten years ago I never dreamed of a tablet for personal use but I was using touch screen HMI's at work. I believe even if the ipods, iphones and ipads don't improve drasticly people will still want the newest version. I believe Apple stock will climb and eventually split.