Through Apple's Pain, Amazon Remains
While I can understand the skittishness inherent in Amazon.com's
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
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.
--Written by Rocco Pendola in Santa Monica, Calif.