With iPad, Apple offered another size -- while maintaining a premium price -- but don't expect it to go the multi-color route. For iPhone, Apple should scale back this somewhat lame cosmetic strategy even further ... to the point of doing nothing. Tim Cook breaks a long-standing Apple motto if he extends superficial color and size tweaks to iPhone. He capitulates to what consumers allegedly want as opposed to knowing what they want and prescribing it to them. If cheap, multi-sized iPhones hit the market, Apple becomes what Steve Jobs called everybody else -- from Samsung to BlackBerry ( BBRY) -- a copycat. If you're an Apple fan, the mere thought of doing anything at all because somebody else does it and it "works" for them should scare the living snot out of you.
If all is right with the world and at Apple, talk over size, color and price is one big head fake. A suite of rumors the Wall Street analysts who spread them today will refuse to own in a few weeks or months. Simply put, a cheap iPhone will ultimately get Tim Cook fired. If, however, he has small teams working on Siri, Passbook and the next beautiful piece of premium hardware, he could end up going down as the guy who took Apple to the next level. Follow @rocco_thestreet -- Written by Rocco Pendola in Santa Monica, Calif.