Usually, at this time of the year, we in the media are all breathlessly awaiting the next Apple press conference, speculating about what great new stuff the company is about to offer us. Instead, we're now watching to see which Apple executives walk the plank, and speculating about Google.
The "cool" end of the market, the premium end, always responds in time to what is happening at the low or "value" end of the market. Just as Toyota made the Lexus possible, just as Chevrolet made Cadillac possible, so mass market success breeds class market profit.
This is Business 101. Tim Cook's Apple, in its arrogance, ignored the lesson of history and is paying the price, in the stores, on the streets, and especially on Wall Street.
At the time of publication the author was long AAPL and GOOG.Follow @DanaBlankenhor This article was written by an independent contributor, separate from TheStreet's regular news coverage.