Just a disclaimer....

Before we embark on the Apple (AAPL) overload that will be the next 48 hours, I thought I'd remind everyone of a very dangerous, very real possibility that will hammer Apple's (AAPL) stock price if it's true. It's been mainstream thinking for a while that tomorrow, Tim Cook, Apple's (AAPL) new CEO, will unveil two versions of the next iteration of the iPhone; the iPhone 5, and the cheaper, maybe even prepaid, iPhone 4S. But there is some chatter this morning that there will be no iPhone "5", but only the 4S. Even I have posted evidence that there will be no major upgrade but only a slight bump in speed and camera quality. In reality, the star of tomorrow will be iOS 5, not the hardware introduced (unless they really overhauled the design like some leaked cases from manufacturers have suggested), but that won't matter to the street, because if we don't get iPhone "5" the stock will get crushed. To be honest, I see no reason to buy Apple (AAPL) today because given this possibility, I see very little short-term upside for the stock. There's a good chance we get both phones and still sell off in a "buy the rumor, sell the news" situation. If I wrong and we miss a little upside it's not the worst thing in the world. After all, the moto on this blog is "perserve capital". I think the next leg up past the $420 level will come when 3rd quarter results are released next month and we see how much money they made, and how many people have lined up to buy the new iPhone. Right now Apple (AAPL) is down $1.65 in early trade....does the street know something we don't?

P.S. There's even a rumor Stevie will show up tomorrow but I don't buy it....here's praying *fingers crossed*