“The mania over Apple (AAPL) shares and the company in general has reached a new low,” Eric Dutram writes for Yahoo Finance. “Lately, investors have been focused in on a possible stock spilt for the next reason to be hopeful on the company’s prospects in the near term.”

“This is despite the fact that a stock split after a nearly 30% crash in a few months is, to put it mildly, absurd. Don’t companies usually try to do splits at lofty prices instead of waiting for a catastrophe as a weak attempt to juice prices?” Dutram writes. “I for one had been thinking about jumping into AAPL at these depressed levels, but some of these recent events have made me reconsider. The stock is still trading on rumors and conjecture, but not even about the company’s business anymore, or the ‘Holy Grail’ of iTV. Instead it is about meaningless things like stock splits and how insane the cash pile will get before something is done about it.”

Dutram writes, “I think I will be staying away until a more coherent policy is developed regarding the firm’s outlook both in terms of products and dividends. Still, I do believe that more dividends have to be coming for AAPL, but I wonder what took so long in the first place.”

Read more in the full article here.