As anyone who watches CNBC is well aware; the darling child of the network is Apple. Steve Jobs is virtually every anchor’s hero; the story of Apple’s rise to glory from the financial ruins following the introduction of the iPod brings a tear to Jim Cramer’s eye. Even the Fast Money traders, who keep things so rapid fire that it’s tough to pin them down on much, they all seem to have a sweet spot for Apple. Apple’s accolades in the investment world are well deserved. For the 52 week period ending February 26, 2010, Apple’s stock (NASDAQ: AAPL) is up better than 100%. In the last year AAPL has traded down around $82 and has reached heights of $215.59. Apple’s stock is still trading near those highs (opening price 3/3/10: $209.16). When you pull the charts out a little bit further (5 yrs) you see that Apple was trading down below $35 a share in 2005. So a long term outlook for Apple from 2005-2010 would have made you more than 600% on your money; not bad.
Not bad, but really? There are many, many better performing stocks over the same time period. While these may not be names which have infected the culture as much as Apple (iPhone, iPod, iPad, etc) the culture side is not what CNBC are all about. They are a financial news channel. So you would figure that CNBC would be current with the financial news. I really don’t think the constant harping CNBC does on a stock like AAPL is really necessary.
Nowhere was this more evident than on Wednesday, March 3 when CNBC ran some cockeyed story about Apple and Google being in direct competition with each other because of these phones. “Google wants Apple; Apple wants Google;” …whatever! It’s all garbage!
Google may have their hands in too many baskets and that’s an angle to take. But the iPhone has its users; Google is not trying to take these users away. If anything it would seem like the Android operating system would fit well into what the iPhone is already doing. I mean the best way to get the broadest audience for your product is choice, right? That’s how it would seem to me. So make your Android Operating system available to Blackberry users and iPhone users and T-Mobile users and Sprint users. Because as Google has proven, if you take something which someone else is doing and make it better (remember Inktomi and WebCrawler?) then you’re going to come out on top.
So don’t worry CNBC, Google is not to topple the mighty Apple. Even if they are, who cares? Apple’s a great company; they can take care of themselves. Or they won’t. But can’t we talk about business and leave the conspiracy theories and speculative gossip for the chat rooms?