Call It Apple's World Again on iPhone

I've been as big a skeptic about this year's MacWorld Expo as anyone long Apple (AAPL - commentary - Cramer's Take) has a right to be. And while we don't have much word if any on actual availability dates for this new iPhone, it's going to be an absolutely huge market share taker in handsets.

I'll have much more on this as the story develops, but I will tell you that I think this iPhone puts a floor underneath Apple's stock (barring any major developments on the options backdating scam that the company and its management might still be rightly prosecuted for). Say, $85 or so becomes a floor and this stock becomes a buy. I'm already long but am looking to buy some long-dated calls in the name now, too.

Research In Motion's (RIMM - commentary - Cramer's Take) Pearl, also being sold by Cingular, is indeed a less clean story than it was when I wrote about buying the stock last week at lower levels. I'm not selling my RIMM today, though, because the Pearl is such a great device in its own right that it's going to take a lot of market share in 2007 from the biggies like Motorola (MOT - commentary - Cramer's Take) and Nokia (NOK - commentary - Cramer's Take) anyway. But I also don't plan on buying any more RIMM as I had been when I made my initial purchase last week.

It's Apple's world again and we're just living in it.

(Engadget's got some great info and pictures of the new phone.)

At the time of publication, the firm in which Willard is a partner was net long Research In Motion and Apple, although positions can change at any time and without notice.

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Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.