not to be a wise guy, but, well everyone who owns it, probably thinks it's a good idea... so common wisdom would dictate.
I was nervous when Gil Amelio took over, and then relieved Steve was around, back then, pre-split 12.75, I wanted to have a vote in any takeover or bankrupt... Back then '96 Apple had zero cash, and no way to cover payroll...only thing gil did was raise some $$ in a corporate bond sale. (Steve then took over!)
In these days, some shrewd market analysts said the brand "Apple" was worth more than the 1.5 Billion market cap. On any product, it sells... Plus technology - it was a steal, but I always recall worst case planning helped me understand the value of a stock. ( U could say iPod has made Apple brand worth 10 times that today)
On a Mac site, I guess everyone is a fan of the technology, and the stock price, and financial results have been phenomenal. From there, to 5 Billion in cash, neow over 7 Billion ( Interest on that is HUGE!)
Stock pricing is "supposed" to be based on earnings ( rather perception of that in the future, and likelihood ) Roughly, it does eventually come out like that... barring macro economic forces like 9/11 short term.
So if earnings, profits, assets, cash, and value improve, so will stock price, and I hope investing further in great products. If technology is good, always was, and execution & marketing are done well... we get iPod type success.
Operations under Steve have been strict, enforced, and more careful with investor money than investors themselves would ever be. The only exec to survive NeXT take over was Fred Anderson CFO. He was good, and heard, Steve knows well finances dictate the ability to run a business, so let an expert do it.
Each division, Hardware, Mac OS, Applications, iPod, from Logic & DVD Studio Pro, each & every part must earn a profit. If they do not, explain why, and when it will be corrected ( say OS 1 year development - when released, sales will cover costs ).
In this model, where say x86 has been discussed, since all divisions are earning profits I'm not worried even about licensing OS X to PC makers. Hardware margins aren't great on PC's, but being accountable, expenses vs. profits, this model allows supreme efficiency ( and Apple can compete with DELL on price & Features -soon spec for spec but beautiful! )
Like Steve said, it's organized, so if I get hit by a truck, Apple will be fine. ( but who else can sell & innovate there? )
Even iTunes, & iTunes Music store, while making no real "profits", must pay expenses, or pay cuts, err something. This ensures no Copeland fiascos, no more research which never ships anything, sucking the company dry....
The business is remarkable, but the part of the plan I've been most curious about was x86 builds for every version of OS X ( I knew ) and how it could balance all these concerns and announce it...
Steve Jobs has to retire, and he wants badly to leave a better world, and an Apple not run by retards, to thrive going foreword. I believe as in poker, you keep quiet, but the master plan roll out, now x86 transition, and next...well, you'll all see... Apple seems a very wise investment long term, and I expect a ton of iPods sold over holidays.....
( Apple said it had set break even at 1.3B in revenue, and profits showed how each rev. increase improves profits in %, and it has! 250M/ Q is better than all those single digits )
I consider it a safe stock. ( world economy will influence markets ) I think the rule is 5 to 7 years before you'll need cash, to prepare to sell now... I also lately notice a LOT of corporations defrauding investors, and I find Apple least likely to ever do that ( Steve can buy the whole thing with a buddy if he didn't want shareholders - Larry Ellison maybe? But we seem happy )
So, I like it, and as I've said since '96 why, and "look" quite smart today ;-) The iPod success I never imagined, but shows what happens when organized well, luck can be exploited by operational excellence, and strict fiscal discipline. I expect them to be poised for any/ all luck going foreword as well....
Just my 2 cents
LT