The people who claim to "understand" Apple -- as the company moves through little more than a media- and analyst-induced noise fest -- these people do not have even a basic comprehension of why Apple is great. In fact, they see the world through a lens that's so antithetical to what Apple is about that's it probably not possible for them to get it.
This fantastic Haruki Murakami quote sums it up:
If you can't understand it without an explanation, you can't understand it with an explanation.
The MBA-types are beside themselves. They can't make sense of what Apple's doing. You have people coming on CNBC and elsewhere applying whatever some freaking textbook taught them and concluding that Apple should do this with X much cash and yield Y percent based on Z. Because that's what the formula says. Anything else just can't be. It's not possible. They can't deal with anything outside of their boring, lukewarm comfort zone.
These guys are bean counters. And, when it comes to Apple and companies anything like Apple, the beaners have irrelevant and outdated opinions.Sometimes things just don't make sense. They don't shake out in the real world the way you learned them in school. Apple doesn't play by the rules. Never has. Shouldn't now. It's not just a case of Apple being Apple because Apple can. It's part of a much more complicated mystique.
When a company does what Apple has done since it introduced the iPod, it deserves to play by a completely different set of seemingly nonsensical rules. Like Cramer said last night on CNBC's "Mad Money": Apple deserves our patience.