Apple has been hogging headlines all over the place because it has in the last couple of days become the most valuable corporation in the history of corporations.
It's another manifestation of what Alan Greenspan once referred to as "irrational exhuberance."
If you haven't noticed, Samsung has been pruning the Apple tree all over the place with its smartphones and tablets.
A lot of the recent up-tick in Apple has been driven by speculation about the next iteration of the iPhone.
It would do the prudent investor well to recall that not that long ago Samsung was thought more or less dead on the mat by most of the smarty-pants commentators. And while there is certainly cause to think irrational exhuberance might float Apple even higher in the short term, there is only one way for it to go in the long term.
Down.
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