A worker climbs outside an Apple store in Hong Kong April 10, 2013. Apple apologised to Chinese consumers last Monday and altered iPhone warranty policies in its No. 2 market after more than two weeks of condemnation in the state-run media of its after-sales service. With its rare apology, Apple Inc went from pariah to praiseworthy in the eyes of China's state-controlled media, a lesson for other foreign firms not to underestimate the speed and power of the government press.BOBBY YIP/Reuters
There's value in being recognized for doing something notable. It gets respect from your peers, elevates your status and opens doors. But there's little value in asking for that recognition. It might stick in your craw that your peers simply ignored the notable thing, or even worse, throw ad hominem attacks and demean you by calling you a kamikaze, or some such thing. Yet, at the risk of sounding a bit undignified, I just can't help myself to stick it back in their craw and say: "See, I told you so."
Back on April 2, on TheStreet, I called the $390 bottom for Apple, to the dollar. I also said that Apple and the major indexes would rocket forward and issued a strong buy alert. And both predictions came true.
But have Apple bears even mentioned a single word about it? No! Instead they have been busy writing scathing articles about Apple, prognosticating the iMaker's impending doom, and calling Tim Cook a blithering idiot. I guess if that's what it takes to get readers, you gotta do, what you gotta do.
Still, I feel empty. Because this article will come and go; many people will ignore it ... which is very puzzling.
So, I'll continue to fight the good fight. TheStreet needs someone to balance the unbridled and misplaced vitriol from Apple bears. Let's start by reaffirming that Apple is the best hope for leading the U.S. economy to a full and complete recovery.
Apple is not succumbing to mediocrity, nor is it being murdered by Tim Cook, and this run is not only real, it's the start of a historic bull run, the likes of which have never been seen. So I restate my Kamikaze call, that Apple will ultimately reach $1,600 sometime in 2015, and $1,404 by the end of 2014.
This fight is never-ending, it's like that scene from Matrix Reloaded where Neo battles thousands of replicating Agent Smiths. These agents are Apple analysts, who are, in my opinion, glorified financial reporters. They are the tools of investment brokers and big consultancies. They have extracted incredible damage on our brokerage accounts because of their inane assessments. It is unnatural these analysts should wield such power.
It is also wrong that some writers go unchecked. So I will make it my cause to balance those misguided opinions, and point out the fallacies of these analysts, with reasoned counterargument and sane analysis.
It's going to be tough, because some people get to do this full-time, while I have to find spare cycles while running the AppleInvestor Trade Room.
Bonsai!
Ernie Varitimos, is the author of the Apple Investor blog. At the time of publication, Varitimos had no positions in stocks mentioned.