Apple’s earnings stinker matters to you, fan or not

SAN FRANCISCO (MarketWatch)
Apple is shaking the tree again
Accordingly, you can expect the value camp to pound their iPads even harder for Apple Activist investor Carl Icahn last week said Apple is his firm’s largest investment
Analysts at S&P Capital IQ, meanwhile, peg Apple shares’ fair value at $738, or a tidy 34% above the stock’s $550.50                                         
Analysts at investment researcher Morningstar and Sanford C. Bernstein & Co. both affix a more modestly upbeat $600-a-share target to the stock — in line with Wall Street consensus 

Yet Apple’s share movements affect many investors, whether they like the stock or not                                        
Apple’s 10-largest institutional shareholders own more than 20% of the shares outstanding
If you have money with Fidelity Investments, Vanguard Group, BlackRock’s iShares exchange-traded funds, State Street Corp.’s SPDR ETFs, T. Rowe Price, TIAA-CREF or Invesco PowerShares, chances are good that you have a stake in Apple’s fortunes                                        
Apple commands a leading 3% position in the SPDR S&P 500 exchange traded fund and sibling Vanguard 500 Index Fund , and more than 12% of the tech-heavy Nasdaq-100-tracking PowerShares QQQ
The stock has a 2.5% weighting in the broad-based Vanguard Total Stock Market Index ETF                                        
Yet longer-term value investors will have to weather the wake from active traders over the coming days
According to market-researcher Birinyi Associates, Apple shares trade lower two-thirds of the time on the first day after the earnings report, for an average loss of 0.5%