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Hong Kong (CNN) -- Apple's share price has fallen more than 25% since its record high set three months ago -- no less than five analysts have lowered their price targets for the U.S. technology giant in the past few days.

To make matters worse for Apple, Android smartphones continue to reign supreme in global market share: for every one such device running on Apple's iOS, about seven smartphones running Android's operating system are computing away.

Is Apple losing its bite? In the short-term, investors and analysts seem to think so. But in the medium-term, they believe milestones exist that can put the shine back on Apple's share price and image.

Apples do fall

On September 19, Apple's share price closed at a historic high of $702.10, exactly one week after the debut of the iPhone 5. But as the freshness of the device's latest iteration wore off, so did the bullishness for Apple's stock. On December 17, it fell below the psychological $500-mark, to slide below $497 in pre-market trading. The company's share price quickly climbed above that threshold that day but still sits at lows not seen since mid-February.

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The dive in Apple's share price has also been attributed to a cut in orders from its parts suppliers. One fear is that Apple may have produced too many iPhone 5s in the current quarter and it may now need to scale back manufacturing in 2013. Analysts from UBS, Citibank, Mizuho, Canaccord and Pacific Crest all cut their price targets on Apple leading to a further drop in the Cupertino-based company's share price.

Another fear is that the iPhone 5 has not been selling as well as previous versions; however that has now been debunked. A record 19 million iPhone 5 units are estimated to have been sold in the U.S. in the fourth quarter of 2012, according to a survey by Morgan Stanley, which would represent a 33% year-on-year increase. Apple also sold more than two million iPhone 5S units in China when it debuted this past weekend.

"Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China," said Tim Cook, Apple's CEO, in a press release.

"The Company remains on track to launch in 100 countries by the end of the year. In our view, this is a positive," said RBC's Amit Daryanani.

Comparing Apples To Androids

But for all the hope and the hype that surrounds Apple, Android smartphones reign supreme in terms of market share by operating system.

Investment research firm Morningstar says Apple has much work to do in 2013. "Although Apple has a robust product pipeline and ample opportunity to gain share in its various end markets, short product life cycles and intense competition will prevent the firm from resting on its laurels," it wrote in a statement.

Globally, less than two in ten smartphones that shipped in the third quarter of 2012 sported Apple's iOS operating software. But in that same period, Google's Android platform ran 75% of smartphones around the world. This also represented a 91.5% increase over the same quarter in 2011, according to International Data Corporation.

Apple's iOS claimed just under a 15% market share in the same period.

Apple's next crop

Despite the recent release of the iPhone 5, analysts are already looking ahead to Apple's potential product releases for 2013 to pull the company's share price up.

"For Apple we believe the sell-off is nearing a bottom but we acknowledge the fears around margins, maps, emerging markets, competition and execution. The company clearly needs to ease these concerns in the near future," said Barclays' Ben Reitzes. "It may take another round of new products and innovations to regain investor confidence and help drive another run."

One analyst from Jefferies predicts an iPhone 5S may ship in the summer of 2013 and that iPhone 6 prototypes already exist.

Speculation is also growing that Apple may debut an Apple television set, a so-called iTV, by the fall of 2013. In a recent Morgan Stanley survey, 47% of 1,568 respondents said they were "somewhat interested" or "extremely interested" in buying an Apple-branded TV set which could translate into 56 million units being sold in the U.S. alone.

The report added a potential iTV rollout represents a new $13 billion opportunity for the world's most valuable company.

MIAMI BEACH, Fla. (AP) — Superstorm Sandy almost kept roughly 50 New York City art galleries from participating inArt Basel Miami Beach, one of the world's most prestigiouscontemporary art fairs, officials said.

Tens of thousands of people are expected to attend the 11th annual Art Basel Miami Beach, the U.S. extension of thecontemporary art fair held each June in Basel, Switzerland. A rum-running skeleton, red Lego pieces stacked into a starry flare and man-sized vampire fangs are among Picassos and thousands of other paintings, photographs and sculptures on display through Sunday.

New York's Chelsea gallery district is home to many of the 257 galleries participating in the main exhibitions that opened Thursday at the Miami Beach Convention Center, said Marc Spiegler, one of Art Basel's directors. The district was one of those areas hard hit when Superstorm Sandy blew into the Northeast in October with flood waters and high winds.

Some of the Chelsea galleries reported just minor water damage, while others lost everything they had in storage, Spiegler said. Still, none skipped the four-day fair.

"Our fear was, not so much that we would have an empty booth, because that's something we can deal with, but just that the implication would be that if you didn't do Art Basel, it would be because you were going out of business," Spiegler said. "Obviously, that's what we were really afraid of: that (Sandy) would put people out of business, which so far it hasn't."

In conjunction with Art Basel, about two dozen other fairs also opened across Miami on Thursday with gimmicks that organizers hope will attract collectors, critics, charitable donors and partygoers. A Bugatti has become a drivable painting, a menacing dog looms over a South Beach hotel and a scattering of Steinway pianos have been transformed by teams of artists for pop-up concerts.

The Miami art season has developed into a see-and-be-seen event as luxury brands and celebrities have sponsored or been featured in an increasing number of independent fairs and exhibitions.

Not all the stars want to be treated as such, though. "Artist! Artist -- not a celebrity!" Julian Lennon playfully yelled at a friend who had referred to the musician and photographer as "a unique celebrity."

The son of the late Beatles legend John Lennon has about a dozen landscapes in a show titled "Alone" at the Overture Art Fair.

"It's basically about having that moment in time where you can reflect, you can think about life, think of the past and present and future. It's that moment in time when you have a bit of peace," Lennon said about the photographs he shot while traveling between music and charity projects.

Lennon also exhibited his photography during the 2010 art fairs, and he was looking forward to enjoying Miami's social scene. "You get every kind of character and every kind of style," he said. "I just hope that doesn't detract from the actual work of the artists who've come here."

Away from the velvet ropes and celebrity glare, many public art installations offer culture for free.

Street artists, including Shepard Fairey, have painted colorful new works onto the exteriors of the warehouses of the Wynwood district. Red, blue and green resin alligators crawl up the yellow facade of Miami's Freedom Tower to raise awareness for Florida's environmental issues.

There's even a kind of scavenger hunt. Over the last two years, the French artist Invader has installed more than 70 mosaics of space alien figures throughout Miami, and maps to each spaceman's location will supplement an exhibit of his new work in the Jonathan LeVine Gallery booth at the Pulse Miami fair.

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Follow Jennifer Kay on Twitter at www.twitter.com/jnkay.

BEIJING (AP) — China is finding the once friendly ground ofSoutheast Asia bumpy going, with anger against Chinese claims to disputed islands, once reliable ally Myanmar flirting with democracy and renewed American attention to the region.

The changing terrain for Beijing was on view this past week at a conclave of East Asian nations in Cambodia. Wen Jiabao, China's lame duck premier who usually exudes a mild, grandfatherly air, got into a sharp exchange over the contested South China Sea islands. The leaders of the Philippines, Singapore and Vietnamreacted furiously when host Cambodia suggested that all sides agreed not to bring outside parties into the dispute — a reference to the U.S.

Meanwhile, Barack Obama, buoyed by the first visit ever by a U.S. president to Myanmar, projected an image of a confident, friendly America, calling for a reduction in tensions and seemingly taking no sides.

Beijing is struggling to find its feet as its own power grows, but the U.S. refuses to cede influence in the region, emboldening other countries not to fall in with the Chinese line.

"The robust U.S. presence and relatively disciplined and quiet diplomacy looked strong relative to China's heavy-handed pressure," Ernest Bower, chair for Southeast Asian studies at the Council for Strategic and International Studies in Washington, D.C., wrote in a Thursday commentary.

It's a reversal over the treatment Beijing enjoyed much of the past decade as it wooed Southeast Asia with soaring trade and investment and the lure of the huge Chinese market. Looking to further those links, Wen held discussions on expanding a free trade agreement to increase China's imports from Southeast Asia.

China's economic "pull remains, but the smile has faded," said Aaron Friedberg, professor of politics and international affairs at Princeton University.

Getting Southeast Asian diplomacy right matters to Beijing. It's an area where China historically exercised great sway. The 10 countries of the Association of Southeast Asian nations, or ASEAN, are home to a market of 600 million people and straddle vital shipping lanes and seas rich in fish, oil, gas and other minerals.

Beijing's influence began foundering in 2010 when its more assertive claims to islands in the South China Sea touched off anxieties among the Philippines and Vietnam, who along with Brunei, Malaysiaand Taiwan also claim the islands in whole or in part.

The fracas provided an opening for the U.S., which as it wound down involvement in Iraq was re-examining the challenge posed by China. The U.S. "pivot" brought renewed diplomatic attention to the region and promises of more military resources.

Still, the friction has only increased. Beijing has become more aggressive in patrolling around the disputed islands, leading to a faceoff last summer with the Philippines over Scarborough Shoal. It is sparring farther afield over other islands with Japan, heightening worries about an expansionist China. It also started issuing new passports featuring a map that shows the entire South China Sea as Chinese territory.

The tensions bubbled to the fore at an annual summit of Southeast Asian leaders in Cambodia's capital of Phnom Penh attended by Obama.

Philippine President Benigno Aquino raised the Scarborough Shoal, prompting Chinese Premier Wen Jiabao to state that the islets have been "Chinese territory since ancient times and no sovereignty dispute exists." China's actions to assert its sovereignty were wholly "appropriate and necessary," Wen told the closed door meeting, according to Vice Foreign Minister Fu Ying.

Wen's stern statement was "destructive and dangerous," wrote CSIS's Bower. "This is very uncertain ground, and uncertainty means the emergency of an inherent instability in the region that undermines a solid foundation for regional growth."

Chinese government-backed experts conceded a failure in execution. "Somehow, the issue was not handled very well in the meeting," said Zhao Gancheng, director of the Center for Southeast Asia at the Shanghai Institute for Foreign Studies.

Economic realities could still work in China's favor, experts say. Chinese imports from the region grew 29 percent last year to $146 billion, and with its economy expected to overtake America's as the world's largest in coming years, China will only grow in importance as a source of overseas investment.

The very fact that China has refused to back off — despite provoking a backlash that could hurt its long-term interests — speaks to Beijing's belief that its economic pull will ultimately convince its ASEAN neighbors that their future lies with China, not with the U.S., said Princeton's Friedberg.

"The big question, I think, is whether the ASEAN states believe that the United States actually has the resolve and the resources to follow through on the commitments that have been made in recent years. If they begin to doubt this they will have to do more to appease Beijing," Friedberg said.