Look, I get the importance of the iPhone to Apple: It accounts for 70 percent of the company's earnings. I understand that some people are always going to be disappointed that it doesn't have this feature or that gizmo.
But the important thing is that so many people have hung back and waited for this new iteration as a way to take advantage of the new rollout of faster 4G networks that it might just sell well anyway. And given that Sprint is ready to go to war with Verizon and AT&T to give it to you, the subsidies will be heavy and the demand strong.
I think this Apple parlor game is repulsive. You are playing trends that can't be played--basically what others with very little capital at work might do or not do with every penny trade in any direction. You are gaming the psychology of the moment and not the earnings of the era.
Here's what you should be owning, not trading: an earnings stream growing at 15 percent that you are getting for 14x earnings, which is what the average stock is selling for in the S&P 500.Is this an average stock with average growth? No, it is among the greatest wealth creators in the world with a vastly superior growth-and-balance sheet.
Do you want to flit in and out of Apple to catch the latest review or day's sale? Or do you want to own a stock that's just too cheap not be owned, one that money managers all over the country have to own to show that they are in the game or to beat the game going into the fourth quarter.
I think owning it has it all over trading it. Nothing I heard yesterday changes my mind.
Disclosure: Cramer's charitable trust is long AAPL.
