The stock might continue to go up. In fact, I hope it does. But nothing changed between BlackBerry's strong early showing and Samsung's fail. Nothing, at least not that we know of, changed at Apple. Somebody simply floated a rumor. And, yes, maybe Apple will hike the dividend. That will drive the stock higher. No doubt. Once again, nice trade.
But the long-term questions I was practically alone in asking one year ago remain. The focus, of course, can Apple innovate in the absence of Steve Jobs? Until Tim Cook answers that question, long-term investors shouldn't believe in an AAPL rally in either direction.
-- Written by Rocco Pendola in Santa Monica, Calif.