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Apple: Is Tim Cook Telling Investors the Truth?

That's the core problem at Apple. Do I think it should dog the stock as much as it does now? Absolutely not, but what I think -- no matter how rational it is or how much AAPL bulls want it to be true -- cannot break this bearish trend. Only Tim Cook can, but he has to produce fresh results.

I still think AAPL can rebound. Its best days -- as a company and stock -- do not have to be behind it:
An earnings miss might actually work in the patient bull's favor. Remember, we're not talking about an overvalued company struggling to grow revenue and earnings and take control of mindshare and market share. We have the exact opposite. That should be the lead story; not misguided noise, smoke and mirrors.

I believe this. However, something or somebody must turn the tide.

For better or worse, a wildly successful iPad mini didn't do it. Same goes for record iPhone sales, a growing cash pile and major inroads in China. It's all about innovation that has Tim Cook's, not Steve Jobs's name on it.

Until we see something that qualifies investors will refuse to believe the things Apple tells them if they're not verifiable in the company's financial statements.

--Written by Rocco Pendola in Santa Monica, Calif.
Rocco Pendola is TheStreet's Director of Social Media. Pendola's daily contributions to TheStreet frequently appear on CNBC and at various top online properties, such as Forbes.
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