In one swift day of catastrophic trading, the major stock indices erased all of their 2011 gains and foreshadowed a major turn for the worst in market sentiment. Uncertainty about eurozone instability, the rushed US debt-ceiling deal, and poor jobs indicators overall coalesced into massive investor fear that resulted in the sharpest drop since the subprime crisis peaked in 2008. We believe there is more to come for a few of the tech stocks that have been trading at inflated values throughout the recession. Apple (

) is one of the most prominent stocks to examine, having been on an unstoppable climb since the beginning of 2009 from about $90 per share to last week's breach of $400 a share. With another quarter of spectacular results, analysts have been painting ever rosier outlooks for Apple's price targets. It's true that Apple has some of the hottest tech products on the market, especially the iOS smart phones and tablets that consumers are lusting for. However, with such poor jobs and housing data, one must question whether the company can keep up its sales growth through the end of the year. A key factor here is whether you believe Apple is actually a maker ofhigh-quality consumer goods or a seller of a luxury lifestyle brand. If [...]