Apple's (AAPL) stock perked up this morning on news that the company has trademarked the term "iWatch" in Japan.
This reminded everyone that, at some point, Apple will finally come out with a new product, one that might get investors excited about the company again.
A Wall Street Journal story also reminded everyone that the company still might yet cut a deal with the massive Chinese mobile juggernaut China Mobile, which would make the iPhone available to China Mobile's 700 million (!) subscribers.
And there's always the hope that Apple will eventually launch a much-anticipated television set.
Related: Forget Music Service, Apple TV is What Really Matters: Henry Blodget
Any of these events would be helpful for the stock.
But, for the moment, Wall Street has basically given up on Apple.
The stock has tanked more than 40% from a peak of $702 last September to a recent low of about ~$390.
Apple's stock has gotten so hammered that it's now trading at a price/earnings ratio of about 10X.
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