Ladies and Gentleman after the blowout quarter and positive guidance exhibited by Apple in the midst of a Keynsian depression one wonders what the company could possibly do to inflame the wrath of bloggers and poorly paid and just as poorly performing investment prognosticators the world over. Apple by any measure is an incredible success story one that found it had not only a first but also a second and third act. The latest controversy surrounding Apple was launched by an investigative reporter covering the "exploding IPods" story. (Google KIRO7 + Apple), and helped along in it latest incarnation by former blogging stocks contributor Douglas A. McIntyre. Take some time and watch this report and you'll see who the media is used to manipulate both stories and stocks. One of the more interesting aspects of the story is the female jogger who claims she was burned by an IPod while running yet confesses that though she is indeed afraid for the safety of her five children she still allows them to take their IPods to bed.

I was a stockbroker back in the late 80s so obviously I have invested and followed many stocks over that period. I began blogging about Apple because I simply could not believe the disconnect between the fundamentals of the company and the forecasts of the various analysts and experts who follow the company on a professional basis. Obviously, with a cost /share of $4.00 I made a killing but I'm really attracted to the educational aspects of the company. As Yogi Berra said, "You can see alot if you watch," bad paraphrase, and with Apple there is so much activity. One of the first people I called into question was Richard Gardner of Citigroup (still employed) who downgraded Apple in the fall of 06. I offered to bet him $1 Million dollars that Apple would finish above $115.00 that year. I also offered that same bet to Kathryn Huberty earlier this year when she downgraded Apple at $100.00 and set a price target of $95.00. Now she has capitulated, gone to $200 I believe, and offered that there is an outside possibility that Apple could top $250. Quite a mea culpa.

Two writers who I've come to respect are Minyanville's founder Todd Harrison and Sheldon Liber but for the most part the media and the internet machine in particular has nothing to do with truth and more to do with public relations. I'll stop there lest I sound like a Luddite.

Be it with Steve's health, forward guidance, or products in development Apple incurs the wrath of writers. I'm not sure if this is the result of Apple's perceived arrogance or if it's prompted by the company's ability to constantly defy the odds. I believe Apple is now the 10th largest company in the world with $30 billion in the bank so the outsider status is hard to maintain. Outlaw Josey Wales has become the Sheriff.

Going forward I doubt that that poorly researched stories will disappear. If Apple has a problem I'm certain they'll take care of it regardless of the potential effect on the margins. After all, this is a company built on redefining
expectations both in regard to products and customer service. Will everything always worked as planned? No.
But I only hope that the writers, editors and producers sit back and take some responsibility for their production, veracity, and most importantly their mistakes. If they could only do half as well as Apple we would have something. So before you post pictures of discolored ITouches or pass along stories about burning IPods do a little research and stop serving as the lower colon for the
digestive process of the media.

And by the way, want to bet against $200? Haters start your engines.