Acquicor Tech Enjoys Apple's Halo

Still, Acquicor may not be quite the moon shot that many blank-check companies are. With the experience and connections provided by Hancock and Wozniak, Acquicor could deliver on its promise and reward investors with handsome returns.

What's disturbing is how readily funds put their capital into a company that, for all its star power, doesn't seem to have the interests of its shareholders as a top priority. That smells a little like an early-stage financial bubble, when funds get antsy about sitting on cash and grow desperate to stick it somewhere, anywhere.

Acqucor is faith-based investing taken to the extreme. That it even got through the gates is a little startling. But keep watching: Whether it proves to be an exception or a general rule will show how intoxicated investors are getting with technology stocks.