Doug Kass of Seabreeze Partners was on CNBC to discuss his views on Apple (AAPL) and the recent 10% correction. He thinks that weakening fundamentals of Apple's business are driving this stock down.
-- Fundamentals are playing a role in decline of Apple stock.
-- He has concerns that the first-mover advantage for Apple has diminished; competitors are catching up.
-- Apple is selling similar product for higher price.
-- There is no Steve Jobs for continuous innovation at the company.
-- Ecosystem advantage has diminished as well. There is a disconnect in the markets with the earnings expected. Earnings are weak and still the market keeps on going up, so the market high point also has role to play here.
-- There is some profit taking.
Credit and source: www.cnbc, CNBC
Here is the video: Kass comes in at around one minute into the video.