NEW YORK (TheStreet) -- The reaction to the Apple (AAPL)/Beats news exposed much of the financial and tech media for the intellectually incapacitated nitwits they are. Almost categorically, these people skewered the deal, largely on the premise of If my friends and I can't understand it, it must not be good.
As a Twitter (TWTR) buddy of mine noted in a direct message Friday:
It's been very one sided today. These analysts would make terrible chess players, they can't think more than one move ahead.
Bingo. The analysts aren't very good at visioning and considering the broad implications and possibilities of a development they can only conceive in here-and-now concrete terms. Beats Music isn't very good right now. So the deal's bad. A sizable chunk of people apply the same criticisms to Beats headphones as Apple haters do to Apple products (it's all about the marketing!), so the analysts pan the deal as "bad," "difficult to make sense of" and "not easy to understand."
But -- from the Wall Street population to the media echo chamber -- remember who these people are ...For nearly three years we endured faux Pandora (P) killer after faux Pandora killer. Each and every time it was supposed to die, Pandora staved off seemingly competitive salvos as investors hastily and misguidedly sold off its stock. Now, when Pandora suddenly finds itself in a situation where it is vulnerable and the things that happen around it matter, its stock didn't crash, but actually went up on the Apple/Beats news. To clarify, it wasn't the mere news of the deal that impacted the stock, it was the reaction from the aforementioned nincompoops that provided Pandora shares support. This is all beyond the height of inanity. And the Pandora illustration only begins to scratch the surface of Apple/Beats-related double cheeseburger inanity. On Page Two ... like Paul Harvey always did, I start digging deeper.
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 Plus 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