Ars takes a look back at three months of turbulence aboard AAPL airlines.

For a couple of years, Apple made all the right moves. From late 2004 onward, Steve Jobs and company rode the iPod and iTMS to ever-higher stock prices. Apple had paid off all its debt in 2003 and the cash was rolling in by the bucket load. Fast forward to January 10, 2006, where we begin our step-by-step inspection. The company reported a massively successful holiday season, iPods were selling as fast as Apple could crank them out, and Jobs unveiled the new Intel-based line of Macs. The stock hit US$85.59 a share on January 13, making the company worth US$72 billion. That was US$2 billion more than Dell at the time. Jim Cramer screamed something about "It's gonna hitUS$100! BUYBUYBUY!" Life was good for the Apple faithful.

What happened? Ars puts 20/20 hindsight to good use and explains why the Apple stock chart looks like a really good roller coaster.