This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Apple Bulls Having Love Fest: Please, Get a Room

Stocks in this article: AAPL

NEW YORK ( TheStreet) -- Philip Elmer-DeWitt's Apple (AAPL) love fest with hedge fund manager Andy Zaky is not only getting old, it has become downright scary.

There's a lesson in all of this, however, for investors as well as people who prefer uncritical fawning over actual cognitive function.

Long story short.

Elmer-DeWitt writes almost exclusively about Apple for Fortune. He's a pretty well-respected scribe and, like pretty much everything that comes out of Fortune, I enjoy his work. I don't miss a post from the guy.

Same goes for Zaky. In fact, last year, when I voted for the best article of 2011 at another Web site, I chose an excellent piece by Zaky where he basically told readers, almost down to the one's column, how Apple the company and AAPL the stock's numbers would look on earnings.

That said, both of these guys need to go on a break or, at the very least, get a room.

On Wednesday, for about the umpteenth time in two weeks, Elmer-DeWitt used his Fortune column to take the same old shots at so-called AAPL bears.

Both he and Zaky appear obsessed with TheStreet's Doug Kass and, to a slightly lesser extent, me.

Consider something Zaky said, at his blog:

Like Doug Kass, Rocco Pendola would probably argue that Apple won't earn $70 in EPS because iPhone 5 sales are going to slow as a result of a slowdown in the global macroeconomic environment, or as a result of MappleGate or as a result of some very obscure notion of a collapse in Apple's brand hitting iPhone sales. We will get nothing real or concrete from either Rocco or Doug Kass.

At least he qualified his mischaracterization of my position with "probably." Anybody who actually reads my stuff knows I have been ultra-bullish on iPhone 5, from practically every perspective, save MappleGate. In fact, I ridiculed the drop in AAPL related to so-called weak iPhone 5 sales.

But, it's not about me and Zaky, Elmer-DeWitt and Kass or any combination thereof.

As with many of these types of debates, you can -- thankfully -- cull some general investment-related wisdom.

Zaky, Elmer-DeWitt and others of the same or similar ilk lament the presence of anything that even resembles "negative" or "bearish" Apple talk on TheStreet or CNBC. To them, anything other than a wholly "bullish" view must be negative or bearish. They live in a world of black-and-white Bushian dichotomy.

They have strange obsessions and, in Zaky's case, a vested interest, in wearing their hyper-bullishness on their sleeves, reminding everybody about how "right" they have been and maligning anybody who has ever been "wrong" on AAPL, taken a contrarian view or attempted to move the discussion past what we already know -- Apple is an incredible company that puts up mind-blowing numbers today and likely will for the foreseeable future.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs