Before I get started…Ellen, Rachel and I watched the Netflix Steve Madden documentary called MADDMAN and it was excellent. Steve’s crazy entrepreneurial spirit and team building are inspirational.

Speaking of Madmen…stock splits are back as if to tempt the 1999 Nasdaq stock market bubble gods.

The spilts come at a curious time as ‘fractionalization’ becomes brokerage table stakes.

Forgetting the ‘why’ for this blog post, the short term results for Tesla and Apple have been incredible:

Last week ‘post stock split’ I wrote a blog post titled ‘Apple – Thanks For The Trillions‘. Of course, people said I was crazy for selling more Apple.

My friend Steven Rosenblatt has also owned Apple a long time (his company was acquired by them) and had this to say:

We closed the Quattro deal in Jan 2010 and Apple stock price was $196 (yes I remember it). Today it’s 3157 (Remember it had already done a 7x split). I can’t tell you how many times over the years I sold shares b/c I said there is no way it can go up much higher. I was worried what would happen to Apple was Steve Jobs died. When Jonny Ive left, etc etc. I also thought I should diversify over the years as I went from Apple being 50% of my portfolio to 10%. Every time it gets above 10% I trim. That said, I have left so much cash on the table (not complaining) b/c every time I thought Apple couldn’t get much higher, it has. I think the next trillion market cap is going to come from India. If they can crack the India market as it matures like China, that will create a lot of market cap value. It’s going to come from 5G + more services + India if it does. Time will tell, just got a kick out of your email b/c of how many times I said the same thing and how much it has cost me.

There you have it!

Apple’s stock is already three percent higher than my blog post this week.

Apple will be in the news A LOT the rest of the year for at least two reasons…

Fortnite developer Epic Games (Tencent is the Chinese public company that owns a piece of both as well as Snapchat) has sued Apple.

This will be a big, dare I say no pun intended ‘epic’ battle, regarding Apple’s app store monopoly (with Google it is really a duopoly) pricing of 30 percent. I am long both stocks, but do believe the 30 percent pricing has become a duopoly over this long a time period.

Apple also has a big slate of products rumored to be coming.

I still think the stock will be lower by 10-20 percent at some point by year end. Would be thrilled to be wrong.