Exactly, indeed they sold 4M just in a weekend.
Taken at face value I think the whole thing is stupid too and I say that as someone who dislikes Apple and refuses to buy their products personally.
However, whether or not this situation is really stupid and short-sighted depends upon who you're talking about, the guys starting it off (evil, not stupid) or the herd who follows them (stupid).
The basic idea is this:
1) Initiate Apple sell-off (via analyst number games and maybe even selling off a small percentage of your own large holdings)
2) Wait for the herd to follow you, driving the price down significantly. Buy back during the dip.
3) Profit (as price goes back up to reality)!
I've heard from many different people in the finance sector that Apple stock is the go-to stock for large player manipulation these days.