♪♪
TRISH: APPLE HITTING THE ONE
TRILLION MARKET CAP TODAY,
BECOMING THE VERY FIRST COMPANY
EVER TO DO SO.
JOINING ME WITH REACTION, DENNIS
GARTMAN, PUBLISHER AND EDITOR OF
THE GARTMAN LETTER.
DENNIS, WOW.
I HOPE YOU BOUGHT IT?
>> TRISH, NO, I DIDN'T.
I FIND THE WHOLE THING A LITTLE
DISMAYING ACTUALLY, THAT
EVERYBODY IS SO EXCITED ABOUT
THE FACT THAT ONE COMPANY HAS
MADE A TRILLION DOLLARS.
TRISH: COME ON, DENNIS, IT IS
KIND OF COOL.
WE HAVE THE GRAPHIC AND
EVERYTHING.
OKAY?
THAT'S A PRETTY GOOD MARKET CAP.
>> WHEN YOU THINK ABOUT IT, WHAT
IS IT A BILLION MILLION.
THAT IS A LOT OF MONEY.
TRISH: I LIKE HOW YOU PUT IT IN
THAT TERM.
SO I'M GOING TO JUST SAY, IT IS
KIND OF COOL ESPECIALLY IF
YOU'RE AN APPLE SHAREHOLDER.
THAT SAID, DOES IT SAY HERE?
I AM GUESSING FROM THE
SKEPTICISM I HEAR IN YOUR VOICE
YOU ARE NOT AS OPTIMISTIC ON
APPLE AS OTHERS.
EXPLAIN.
>> EVERYBODY AND HIS BROTHER HAS
SOMETHING FROM APPLE.
I HAVE AN APPLE iPAD.
I HAVE AN APPLE PHONE.
WILL I REPLACE THEM EVENTUALLY?
OF COURSE I SHALL.
HOW MUCH MORE EXPENSIVE OR
EXPANSIVE CAN WE GET?
HOW MUCH MORE PEOPLE WILL BUY
AND HOW MUCH PERCENTAGE TERM,
NONETHELESS IT IS AMOUNT OF
MONEY APPLE HAS.
IT'S A BANK FOR ALL INTENT AND
PURPOSES.
IT HAS A PHONE COMPANY ATTACHED
TO IT.
IT IS INTERESTING WE'VE GONE TO
A TRILLION DOLLARS, THESE
THINGS, THESE ARE THE SORTS OF
THINGS COME WHEN YOU HAVE MARKET
PEAKS, NOT MARKET VALLEYS,
CERTAINLY NOT MIDDLE OF THE
MARKET MOVEMENTS.
I GET A LITTLE, I'M A LITTLE BIT
BORED WE GOT TO A TRILLION
DOLLARS.
I'M CERTAINLY NOT EXUBERANT BIT.
WHAT THE HECK.
I UNDERSTAND IT.
IT IS IMPRESSIVE NUMBER TO SAY
THE LEAST.
TRISH: THEY'RE FORECASTING GOOD
THINGS FOR THE FUTURE.
FLUSH WITH CASH BECAUSE MAYBE
THEY GOT A BONUS.
BETTER.
I'M INTERESTING TO SEAT JOBS
YOU IN THE MORNING.
I THINK THAT IS PRETTY CRITICAL.
4.1 GDP GROWTH.
WAGES SHOULD GO UP.
THIS DARN THING, ONLY HAD IT
COUPLE YEARS, ALREADY GOING OUT
ON ME.
NEEDS TO BE REPLACED.
THE REALITY, DENNIS, NO ONE ELSE
HAS A SIMILAR SORT OF ECOSYSTEM
THAT CAN COMPETE.
ONCE YOU'RE IN, YOU'RE KIND OF
IN.
>> THAT'S A VERY GOOD POINT,
ANYTHING ELSE AMENABLE OR EQUAL
TO WHEN APPLE HAS.
WHEN MY iPAD DIE, THE BATTERY
IS RUNNING LOW A LITTLE BIT.
TEND TO RUN DOWN QUICK.
TRISH: THAT'S WHAT HAPPENS.
>> WILL YOU REPLACE IT?
I DON'T KNOW.
LET'S GIVE APPLE CREDIT AND
STEVE JOBS FOR WHAT HE DID 20
YEARS AGO.
GIVE THE CURRENT MANAGEMENT
CREDIT FOR WHAT THEY HAVE BEEN
ABLE TO DO AND CONTINUE.
IT IS IMPRESSIVE FEAT.
KINGSVIEW ASSET MANAGEMENT,
FOX NEWS CONTRIBUTOR.
SCOTT, WOULD YOU BUY APPLE NOW
AT THIS LEVEL, OR DO YOU KIND OF
SHARE DENNIS' VIEW IT MIGHT BE
GETTING A LITTLE TOO FROTHY?
>> IT IS GETTING FROTHY, I AGREE
HERE IS THE BACKUP, TRISH,
TRILLION DOLLAR MARKET CAP AND
CONFETTI, WHAT ABOUT THE
EARNINGS REPORT RECENTLY, GUYS?
MONUMENTAL EARNINGS REPORT.
KIDS LIKE TO SAY BECAUSE IT IS
ALL HARDWARE, RIGHT?
REVENUE THAT WAY.
IF THEY GET MULTIREVENUE STREAMS
GOING AND FIRED UP, THAT HELPS
THE BUSINESS LINES AND REASON
YOU NEED TO OWN THE STOCK.
TRISH: EVEN AT $207.93 A SHARE?
>> I DO.