NEW YORK (TheStreet) -- That evil bastard called cancer took Steve Jobs from us too soon. If he is looking down on us from wherever or has come back as a cat or some such, he's likely to die another death. Observing the state Apple (AAPL) is in has got to make him sick.
I must qualify my sentiment: I operate under the assumption that, while Apple still dominates near-term, there's something amiss. As much as I have an unabashed love for Apple . . . wait . . . Allow me to stop down for a second . . .
In our household, we have a MacBook Pro with Retina Display, three iPhone 5s, two "regular" iPads, one iPad mini, an iPod Shuffle, an iPod Nano and an old school, crazy big pinwheel iPod. I have never spent so much money that I did not have to spend (most of it over the last year) with one company in my life. I use Apple Maps and iTunes daily. I like them both as much, if not more than most.
So, yes, I believe in Apple. There's nobody that does much of anything -- save Roku -- better. The selloff in AAPL stock has come much too soon.That said -- despite my adoration and pricey display of consumer loyalty -- I can't just say, Stay strong fellow warrior and buy the dips! because, that's an emotional response and, in investing, unchecked emotion -- as well as blind faith in your leaders . . . or anything -- can get you killed.
Let's just knock it down to what it is. Once again, I will do what few have the courage to do -- poke the elephant in the room. Relatively speaking, Tim Cook has absolutely no idea what he's doing. I say, "relatively," because I do not mean "relative" to standard hacks like me or you (not you!), but relative to Steve Jobs, relative to the way Apple once was. Apple never answered to and didn't take no **** from nobody (nod to another Northeast pop-rock icon Billy Joel). Shareholders. Hedge fund managers. Customers. The competition. The Chinese. But, man, those days are gone. Long gone. And, fair or not, it's on Tim Cook.
Seriously, add this incredibly odd apology to the Chinese, posted in Chinese at the Apple Web site, to the list of B-player head scratchers committed by Cook in his tenure thus far. As TheStreet's Special Projects Editor Carlton Wilkinson noted when he discussed this Monday, Why no English version of the apology? Does Cook think investors don't care about something that helps knock the stock down more than 3%? And why apologize in the first place with a press release that requires another press release for explanation?
Cook succeeded at nothing with his apology. In fact, just like he did during MappleGate, Cook pushed people who would generally look to Apple for answers to a Google (GOOG) service. TheStreet's Chris Ciaccia had to employ Google Translate to make sense of what Cook said. (I'm only half-joking here).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV