This is all short-term noise -- iPhone 5, iPad Mini, the Christmas shopping season. None of it matters vis-a-vis Apple's long-term narrative other than the extent to which these things influence the company's path to the next big, independent of Steve Jobs, product launch.
AAPL will trade on everything but that actual future until we get some meaningful color on it.
We'll get the now obligatory over- and under-reactions to earnings, rumors and this noise or that noise. But, not until Tim Cook takes the stage with something new will we have anything close to a handle on the veracity of $1,000-plus price targets for Apple's stock.
At the time of publication the author held no positions in any of the stocks mentioned.Follow @RoccoPendola This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV