NEW YORK ( TheStreet) -- Among other things, I was called a buffoon when I announced in April that I was still holding shares of Apple (AAPL). This was even though the stock had just broken below $400 to reach its 52-week low of $385. Every Apple bear and his mother came out demanding the resignation of Tim Cook, even though they couldn't tell you why.
On Tuesday, billionaire activist Carl Icahn, who, according to published reports, has taken a position in Apple worth as much as $1 billion, effectively told the bears to go fly a kite.
Icahn, who knows a thing or two about effective corporate management, essentially signaled what Apple supporters everywhere already knew: This is a new Apple and Cook is not going anywhere. Apple bears, meanwhile, who could never muster up any real argument for Cook's dismissal other than to bring up "legacy issues," are stunned and silent.
Thinking they matter more than they do, these bears, who have shown no ability to walk and chew gum at the same time, completely missed Monday's announcement that Apple would release its next-generation iPhone in September. By focusing on Apple's perceived deficits, with no counter-glance at the company's future, numbers don't appear to matter to them.Now, Carl Icahn, that's a numbers guy, one who can really push the needle. So, anyone from this point forward who says Apple has no idea what it's doing, that person is essentially saying he/she knows better than Carl Icahn.
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