The Case for Apple's Stock Price Falling to $270 is not very good:

1. Competition from Microsoft - "Microsoft’s strategy is to extend its dominance in enterprise, desktop, and notebook computing to tablets and phones." - I am sure that it is, but they have not shown any ability to execute that strategy, yet.

2. Competition from Samsung - They sell more units, but the profits are not there and that is the bottom line.

3. Web Apps vs. the App Store - No one has figure out how to make money with mobile web apps. It is a major problem. The screens are too small for ads. The App Store on the other hand is highly profitable.

4. Leadership - Nothing new here. Sure Steve Jobs is a hard act to follow, but Tim Cook is doing fine. Most people now view the the maps issue as a strategic win for Apple.

Update: (12/19/2012) Tim Cook selected as runner up for Time Man of the Year.