Certainly your guess as to how AAPL will respond to lower consumer purchasing power is as good as any. But both Greenspan and Bernanke hold the stock market darling with no regard for base M0 monetary inflationary policy. The lesson Keynesians learned from '29-39 was that contraction of the money supply was both cause and effect of the stock market collapse. The Fed is now buying assets with printed money to prevent both. No, the stock market won't deflate, the Fed will just claim commodity supplies are decreasing, naturally increasing prices on tangible necessities.
I am happy to bet with you that the DJI will fall below 4000 by 2015, to underline that I am serious with my forecast.The middle classes will have trouble affording food, energy, transportation, paying off debt (despite attractive loss in debt value), and very few will be able to afford fashionable consumer electronics. So AAPL will drop unless they start selling apples from trees or produce soft/hardware for the banks. But I posit that the Fed will continue monitary inflation combating stock market deflation while denying real price inflation. Unfortunately, I think they can keep that up for four more years, before everything traded in dollars collapses, but I'm certainly not betting on that timeline.
60% collapse by 2015, you say?