Apple is up over 10% in premarket trading after blowout earnings and strong revenue gains. The stock should open around $615 per share, still below the high of $644, but definitely a powerful reversal of the recent downtrend. One key thing I noticed in the report was that iPod sales were pretty weak. While the ipod is an older product line, I think it is instructive to see how sales, even of Apple's exceptional products, eventually fade. The point is that they need to continue to release new, revolutionary products like the iPhone and iPad to sustain the lofty prices we are witnessing for the stock. I just don't see anything in the pipeline that meets that criteria, and I don't think Tim Cook, the current CEO, can replace Steve Jobs in terms of developing these types of new products. So, in the long-run, I am not convinced that Apple can keep advancing. If I owned the stock, I would see every share I owned today.
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