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Why Apple Still Needs Tim Cook

Pertaining to Ive, Jobs referred to him as his "spiritual partner" at Apple and that "he understands what we do at our core better than anyone." Arguably, you could make the case that Ive is Apple's visionary.

With Cook overseeing Apple and its operations and Ive running the designs and "flow" of the new products, I think it's a little premature to declare Apple's growth days long gone.

The company does face margin compression from increased competition and market saturation. But sales are still thriving and consumers still want Apple products.

Apple will continue to have robust sales, at least for the next several years. I think tablets are just in the beginning stages and Apple will likely remain at the forefront of this product category for quite some time. And that's not to say the iPhone is dead. Far from it actually, as Apple continually sells millions of units per quarter.

Before we collectively write off Apple, Cook and the rest of this Silicon Valley giant, let's wait until the second half of 2013. Cook specifically said in the first quarter conference call that he's "very excited for what we've got planned for this fall and throughout 2014."

Maybe the new products will be a flop. Maybe they'll stink and growth will be extinct. But I'm going to give it a shot and say that they won't. The share repurchase has pumped new life into the stock. The crack below $400 shook out a lot of short-term longs, while only leaving long-term shareholders in the name. It also opened the door for new money to come in.

While the next quarter might come in a little subpar, let's see what Apple has to offer. The stuff up the company's sleeve doesn't have to change the world -- although, that would be nice -- it just has to be a great product that people want.

Either evolutionary or revolutionary will work, according to David Tepper, founder and CIO of Appaloosa Management. But as he went on to say, "If they don't do either, we've got a problem."

And for those of you who loved Steve Jobs, thought he could do no wrong and can't stand the current CEO Cook, remember one thing: Jobs picked him.

At the time of publication, Kenwell was long Apple call options.

-- Written by Bret Kenwell in Petoskey, Mich. .

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Bret Kenwell currently writes, blogs and also contributes to Rocco Pendola's Weekly Options Newsletter. Focuses on short- to intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.
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