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A Gold iPhone Good for China, Awful for Apple (Update 1)

Tickers in this article: AAPL

Updated from Sunday, 7:49 p.m., eastern, to add video reaction from TheStreet's Chris Ciaccia and, on page two, Apple's current stock price and additional commentary on gold iPhone rumors.

NEW YORK (TheStreet) -- So, the latest Apple rumor comes from a relatively credible source, MG Siegler over at TechCrunch.

Long story short, it's a gold iPhone. Initial reaction from the tech-geek ether, gold is big in China, therefore a gold iPhone would be big in China.

Maybe this is true. And maybe Apple will sell a billion gold iPhones to a billion Chinese in China and abroad. If, however, you have anything resembling a long-term field of vision for this company, you best be concerned.

Writing for Business Insider, the clever Jay Yarow referred to this as "Apple's Next Great Innovation ..."

I can only hope he is being sarcastic.

I knew Apple would change when Steve Jobs died. It was inevitable. Expected. And, to some extent, preferred. That said, I never thought I would see this sort of gimmicky, short-term pathetic attempt at stealing low-hanging market share from this company.

The only good Apple rumor I have heard is that the company will stick to what it does best and produce a television set/set-top box combo, focused not on content, but on design and user experience. The stuff that brought Apple to the dance. That would help keep Apple's halo effect alive. And it would show that Tim Cook hasn't forgotten -- assuming he even knew in the first place -- where Apple came from.

Updated on Page Two.