My Victory Lap After What I See as Apple's Best Quarter Ever
NEW YORK (TheStreet) -- Well, where do I begin? As a long-time Apple (AAPL) shareholder and a second-generation "fanboy," I don't know if Apple has ever produced a quarter that brought more vindication to everything I've said leading up to Wednesday's report.
Over the past couple of weeks, I've outlined a series of articles to help TheStreet's investors prepare for what was (and still is) the best bargain on the market.
But first, I had to come to the defense of Tim Cook, Apple's embattled CEO, who former Wall Street Journal writer Yukari Iwatani Kane has called a "stage manager." I wonder what she would say to Tim Cook today.
Following that article, I offered several reasons why the stock was heading to $650. Comments on that article said I was delusional.So I offered examples of how Apple was still demolishing its rivals. Bears disagreed. I then issued a swift response to Forbes writer who penned one of the dumbest Apple articles I've ever read. It was suggested I had become "too attached." I then pointed out that it was analysts -- not me -- who didn't understand Apple's direction. Bears insisted that Apple's only direction was down. Following that article, I told you how analysts focus too much on Apple's margins and not enough of on the potentially strong quarter to come. A commenter responded that Apple's iPhones are not good enough to justify such high margins. There are other examples of bearishness. But given all of the unnecessary hatred towards Apple and undue criticism Tim Cook has had to endure, at the risk of extreme hyperbole, Wednesday's results were by far the best damn quarter in Apple's history. I will gladly defend this statement to anyone, and it has nothing to do with the reality that the stock soared 8% following the report. Apple hit on every single metric that I suggested was necessary leading into the quarter.