Apple - Not This Basket

I wouldn't bet on that Apple right there -->.

I also wouldn't bet on Apple's stock getting a material boost from an accounting change in the works.

According to many, Apple's as-reported quarterly earnings per share will show a material pop if said accounting change is enacted. Apple currently books iPhone revenue over the life of the subscriber contract, not as a one-time sale. Since the phone buyer is a customer of the carrier and not Apple, that seems wrong from the get go. In any case, changing the accounting would pull forward earnings as reported, not change them over the life of the phone.

I'd like to think that the market has figured out what the real returns available to common shareholders are. Maybe not.

Apple's stock has gone up almost every day for the last seven months. Even though I still like it, don't put all your eggs in the wrong basket.