On the other hand, those who are looking for an outstanding investment should buy or hold, until June 14 at the earliest.

Apple’s world-wide developer meeting starts on 2nd June. The 7 for 1 stock split takes place on the same day with trading starting on 9th June. Apple has also increased its already huge stock buy-back by a further $30bn, repeating its belief that buying its own stock is an excellent investment because it’s undervalued.

The foregoing, taken together with new product and service announcements expected at the developer conference, is a strong indication that Apple is planning something big. It may be right to casually dismiss TV or watch products without knowing anything about what they may be, but I doubt it. I think it’s likely that Apple will introduce another fundamental revolution in the basics of digital technology. Its patient shareholders will benefit enormously.