This Day On The Street
Continue to site
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

Apple Bulls Having Love Fest: Please, Get a Room

NEW YORK ( TheStreet) -- Philip Elmer-DeWitt's Apple (AAPL - Get Report) 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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $37.40 3.90%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs