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.
Comparing "legacies" makes for good debates at barber shops and at the corner pub. But it only demonstrates one's inability to see what's right in front on you. You can be a "purist" if you want and hang on to your piece of history, but don't mistake it for a "badge of honor." From where I come from, it's called an emotional attachment. There's nothing inherently wrong with that, though. But, clearly, Carl Icahn does not care about Apple's "legacy issues." What Apple bears are unable to understand is there's a meaningful difference between the stock and the company's actual performance. I'm not going to blow smoke and pretend Cook has been a flawless executioner. But given these recent events, including the release dates of new products, the direction of the company is now clear. Questions will remain, however, about Apple's margins. As a shareholder, these are legitimate concerns. But it's interesting how these bears have had selective thinking for this argument. Somehow, margin compression only matters when it comes to Apple. But these bears will quickly defend Amazon ( AMZN), which has struggled with profitability for years. GOOG) to be successful. I believe those days are over. But I also believe that Apple's services business, which will include personal and mobile cloud as well as mobile payments, will substantiate Cook's arrival as CEO and thus his "legacy" at Apple. At the time of publication, the author was long AAPL. Follow @saintssense This article was written by an independent contributor, separate from TheStreet's regular news coverage.