Microsoft, Apple and Nokia Now All Have the Same Problem

NEW YORK (TheStreet) -- As Apple(AAPL) once again soars into the stratosphere, I am taking lots of flack for my perceived bearishness. Even my friend and fellow TheStreet contributor Richard Saintvilus threw some good-natured ribbing my way Wednesday morning when he alerted me to his article, Apple: I Would Never Say 'I Told You So', beaming on TheStreet's homepage.

In reality, while cautious, I have never been near-term bearish on Apple. Consider what I wrote last week on TheStreet:

I need to point out that when Steve Jobs returned to the company, Apple did not become a success overnight. It took several years and a whole lot of second-guessing from bears and even the company's few bulls.
For most intents and purposes, the rough road ended when Jobs made Apple's product lineup leaner and meaner and introduced the first iPod. Just like the path to success, the road to failure or, at the very least, mediocrity, will not present as a swift and straight path.

While I argue that the loss of Steve Jobs will hurt Apple down the line, I have never questioned its near-term dominance. In fact, I have a deep admiration for the company, largely because of Jobs' impact.