The story here, from a financial perspective, is how this market sell-off likely has very little to do with Apple’s fundamental business, and much more to do with the behavior of a panicked heard.

Had Apple put out an 8K, I might have commented on that. But since they didn’t, which in itself seems somewhat unusual given the carefully orchestrated campaign yesterday, including multiple interviews (WSJ, USA Today) and an hour-long video, there was no filing to rely on.

Everyone should expect the prices of technology to drop. Most people do. The tech products you buy this year will be better and cost less than the tech products you bought last year.

What happened to the invisible hand? If the price is too high, don’t buy it. If you decide the price is right, and buy it, then the price someone else pays tomorrow has nothing to do with your purchase. The shame people feel at paying too much is a personal psychological reaction — perhaps the inverse of smug, but no better or worse.

By all measurable indications, Apple’s iPhone sales are going very well, and their price drop should be recognized for what it is — an aggressive move to sell many more phones at a profit.

You WAITED IN LINE for the phone. How can you say the price was too high? If it were too high, why would you line up to get one first? Doesn’t that strike you as preposterous?

I cringed when I heard journalists’ frenzy over this price cut, but that’s what journalists do. This is a blog that soberly investigates financial statements — I didn’t expect any discussion of Apple’s price cut, let alone one that doesn’t have much to do with accounting, finance or economics.

The story here, from a financial perspective, is how this market sell-off likely has very little to do with Apple’s fundamental business, and much more to do with the behavior of a panicked herd.

Time will tell.

In new york next week…drinks?