Business news 2/15/2013: Just months ago Apple was the most valuable company on the planet and now they are going bankrupt. People are in an absolute frenzy as they can't sell their shares fast enough.

How did this happen? I'm not sure because reports have been that Apple had a blowout Christmas as the iPhone and iPad mini flew off the shelves. I know in my city I couldn't get my hands on a Mini as all the stores were sold out. I had to buy online and wait a week for delivery.

Apparently its a good thing I did because Apple may not be around much longer.

That was a month ago and now apparently Apple is on it's way to becoming a worthless company. There was a news report from some guy in Asia who cited unknown sources that Apple cut their orders of some iPhone 5 components by 50%. The Wall Street Journal ran with the story and now it is all anyone can talk about. Can it be true?

Analysts are falling all over themselves to get their 2 cents in about how Apple is going down the drain. EVERYONE want to be on record saying that Apple is a company of the past. Google and Samsung are the future. Sell Apple NOW while you can still get some money back!

Apple will be announcing their earnings in a week and then they will have to tell the truth: that they are sinking fast and no one is buying their products anymore. They have nothing new to bring to the table and all they have left is different sizes of old products.

The stock market can sometimes be like sitting in a theater when someone yells "FIRE". Everyone panics and heads toward the door. I think this is pretty much what is happening with Apple right now. Yes, there may be more legitimate competition than ever before but I'm holding on to my Apple shares and I am NOT going to sell just because everyone else is panicking. This sell off is just way overdone. Sometimes you need a strong stomach to be in this game.