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Through Apple's Pain, Amazon Remains

Tickers in this article: AAPL AMZN NFLX
NEW YORK (TheStreet) -- As Apple continues its crash, there's something the media and Wall Street analysts should use to illustrate the story, but, for some reason, they choose not to.

While I can understand the skittishness inherent in Amazon.com's lofty multiple, you have nothing to fear but fear itself. Jeff Bezos is in charge. And, in a world where Tim Cook leads Apple, that's about as good as it gets. In fact, it was about as good as it gets when Steve Jobs was alive. Bezos has always been and remains one of the greatest CEOs of our time.

Relatively speaking, AMZN continues to hold up well as AAPL tanks.

Confidence born out of a level of certainty established by the track record of management. That's what separates the two companies and stocks.

Amazon gets the benefit of the doubt because it deserves it. Apple does not because, without the safety net of the sure and steady rhetorical, consumer experience and design genius Steve Jobs, it doesn't deserve it. Simple as that. Throw your charts and MBA textbook sketches of valuation out the window -- they mean nothing in these parts.

All that matters is sentiment, influenced by several ingredients management ultimately has control over. Who owns the narrative? Who dictates the story? Jeff Bezos does this with a noble silence. Only the greats pull it off. Cats like Bezos and Jobs.

Reed Hastings at Netflix -- another excellent example of dominating the narrative. He weaves his company's tale with a level of bravado that patches over the glaring holes in the Netflix business model and it's competitive position.


Tim Cook is somewhere in between. In purgatory. In a land of uncertainty. Leading a company mired in the stuff and, unlike Jobs, Bezos and even Hastings, he has no idea how to handle it.

Cook will not fly under the radar much longer. He's not Steve Ballmer.

The chart pretty much supports my AAPL/AMZN thesis. Expect history to repeat itself in the coming weeks. AAPL ChartAAPL data by YCharts

--Written by Rocco Pendola in Santa Monica, Calif.