Dollar cost averaging. Did you like the stock at $40? Buy again at $23.16. If your investment was only $80 to begin with, you won't be adding greatly to your investment. If it goes back to $30+, you can change your mind and get out with no loss. If your original investment doubles, you've made that much more.
Of course, "dollar cost averaging" as a recognized investment strategy is really regular investments whether the stock goes up or down, not what I described above, but it kind of describes the above.
Also, as to gambling: You said you own Apple stock. What if there were headlines that "Apple supplier Foxconn found to utilize child labor" and the stock immediately dropped 10%. Would you consider adding to your portfolio then? Or are you a bit more informed due to your familiarity with Apple without doing all the research and would be making a better choice than someone who just used the strategy "buy on bad news".
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