You've got to love the market rumor mill. Today, much of the noise is about this report that Adrian Perica, head of M&A for Apple (AAPL), has met with Tesla (TSLA) CEO Elon Musk. My first thought was that this was a great match not just from a business perspective but because long-term Apple investors can tell the new breed of Tesla fanatics a thing or two about restraint.
At different times I have fallen afoul of fans of both companies. When Apple was approaching $700 I wrote that the stock may have been overvalued and that exponential rises in the share price could be coming to an end. To some, this was heresy of the worst kind. Fan-boy types, however, are less in number (or at least less vocal) now that the stock has seen $400 again and Apple can be evaluated for what it is -- namely, a phenomenally successful company whose growth is inevitably slowing.
Tesla is in some ways a similar company. It, too, is known for innovation and has a devoted following who react passionately at any hint of criticism. I found this out when I suggested that Tesla may be due for a correction as the stock approached $200 at the end of last year. As with Apple in 2012, the fanaticism of Tesla's supporters was matched, if not modeled on, the passion of the company's CEO. Neither Steve Jobs nor Elon Musk could be seen as slow to defend their companies from negative sentiment.