Scrutinize Apple at $200/share, don't give it praise

TheStreet.com media critic Marek Fuchs wants to know why the business press fell all over themselves in reporting that Apple’s stock passed the $200 threshold instead of examining whether the price had gotten too expensive.

Fuchs wrote, “Here’s the most important element of this coverage: Since $200 was no direct mark of business accomplishment, an investor needs the business media to be skeptical. A devil’s advocate approach to this rise to $200 would serve investors best. That is not to say that reporters should trash Apple, one of the greatest companies in American history. But no one is perfect, and no move past a benchmark number should be automatically greeted with flowers and chocolate. That does no one good, least of all Apple shareholders, who I know from boatloads of emails are too prone to boosterim to begin with.

“As any good investor will tell you, emotions, like love, are an enemy.

“Let’s quickly review examples of the good and the ugly.

“Motley Fool all but struck up the band in tribute to Apple with this effort. ‘Apple at $200 Is Just the Beginning,’ chirps the headline. Naturally, the Fool could be right; Steve Jobs will certainly go down in history. However, investors are best served by an article that questions a move in a stock they own and tests the reasons they invested in Apple in the first place. Would you buy the stock now?”

Read more here.Â