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TheStreet Open House

Einhorn's a Hustler and He Doesn't Understand Or Care About Apple

You don't completely disrupt entire industries, force companies into strategic implosions (see, e.g., Research in Motion (BBRY) -- the company and ticker with "the artist formerly known as RIM" -- and HP) and put others in a position where they have no choice but to run and hide (see, e.g., Dell (DELL) and then, just because your stock is going down, answer to the whims of self-interested, short-term thinking parties. Where were these people when AAPL was printing $700? The stock goes down and this is how they react? They clearly do not understand Apple. And they sure as hell do not think the way Steve Jobs thought or Apple's present regime thinks.

Tim Cook and his team at Apple are in head down mode. They're not the source of any of the noise of the past several months.

The last thing Cook should do is take advice from Einhorn, a guy who is out to squeeze as much juice out of AAPL stock as he possibly can. Don't be fooled into thinking Einhorn cares about what's good for Apple. He cares about what's good for David Einhorn. He's a hustler -- and I mean that in the positive, what a shrewd, sharp-as-a-tack kind of guy sense.

If Apple ever stops ignoring cats like Einhorn ... if it goes beyond issuing blow-off statements (which it should not have done anyway) ... then I will be concerned. If it ups the dividend on the common stock a bit, that's fine. I can deal with that. But, anything more than that and anything less than what has made Apple anything but a textbook case will be actual cause for critical near- and long-term concern.

--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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