All else equal, AAPL is the absolute best investment on the stock market. Everything you look for - fundamentally, quantitatively, qualitatively -- it's all there. Then there's the ultimate differentiator:
Apple has no meaningful competition
it winds up competing against itself
With that, longs should welcome a healthy amount of skepticism and constructive caution vis-a-vis the future. That's what I attempted to bring to the conversation during the first half of 2012
when I wasn't the biggest AAPL bull
. But then, somewhere along the way, a gaggle of Wall Street and media hacks hijacked my reasoning and turned end-of-year tax-related selling into the type of hysteria that shouldn't pressure the stock
six months to a year
, if ever.
We're dealing with the same smoke-and-mirrors, dog-and-pony show type stuff you see in penny stocks. Again, don't think specifics, think theoretically.
Too many bad hands in this stock now -- trash talkers,
and, despite the hefty price tag,
penny stock guys
. Though I suspect many of the biggest influencers here -- media cats, bloggers, Wall Street types, etc. -- don't even own this thing. But that does not stop them from poisoning the waters.
Like I said, I am all for being critical. I even love more than an average amount of controversy. But, man, somewhere in the last few weeks or months, we crossed the line with AAPL.
That makes it a stock not worth owning. Even if it ends up $700 again or realizes
price targets of $1000-plus
, the crap and anxiety that accompanies AAPL if you attempt to buy-and-hold it precludes the stock from being an reasonable option for investors who do not have nerves of steel or, as, Alec Baldwin said in "Glengarry Glen Ross," "brass balls."
--Written by Rocco Pendola in Santa Monica, Calif.