this May 16, 2012, article), I was largely OK with the near-term, but cautious looking out 12 to 36 months. AAPL bulls ripped me for constructively questioning the company's future. As the end of the year approached, AAPL weakened. The freefall kicked into high gear in mid-September 2012. Suddenly, every analyst and financial media member started hawking the post-Steve Jobs story I was selling months prior. Things spun out of control. Sentiment shifted on a dime. AAPL had no chance. Shockingly, it became a horrible long-term investment. A majority of investors had no business owning AAPL, especially intraday Wednesday. And most certainly now. Most people are not nimble enough to do the only thing you can do with AAPL: trade it like a sardine. You're 100% better off in names such as News Corp. ( NWSA), Disney ( DIS), Time Warner ( TWX) and Madison Square Garden ( MSG). MSFT), Dell ( DELL) or Research in Motion ( RIMM) until they prove they're worthy again. And there's no reason to take Amazon.com ( AMZN) or LinkedIn ( LNKD) down a notch because their long-term narratives absolutely remain intact. It's patently absurd that Wall Street no longer gives AAPL the benefit of the doubt, in and of itself or relative to AMZN or LNKD. That's been my line for weeks.
Even if they look like they're getting better, things are only going to get worse. I told you not to own AAPL before earnings because of the irrational market. And I am telling you not to own it after earnings. Your sanity is more important than showing loyalty to AAPL. If you still have profits, take them. If you're down, get out. Waiting for a rebound -- no matter how right you think you are -- ends up a loser's game. For every one you salvage, another handful will break you. Don't fret if you miss the upside we're likely to get in the next few days, weeks and/or months. It's only going to butt up against the time when concern over Apple's long-term ability to innovate becomes relevant. Follow @rocco_thestreet --Written by Rocco Pendola in Santa Monica, Calif.