yet another steve

Apple Sitting on Excess Inventory?

Count me in on the "why are we focusing on $100 ipods instead of $2000 computers?" And then add: "Why are we focusing on $79 ipods instead of $300 ipods".

Selling everyone on the planet a $29 throwaway device ins't nearly as lucrative as selling a whole lot of people a $300+ handheld wireless platform. Apple is turning the ipod into a computer. The important announcement isn't a new product... it's the SDK next month.

Meanwhile the company, largely through its mac business, is practically printing money.

This is a company whose earnings are growing north of 30%, who will make about $5.50 THIS year, who is building a subscription profit stream through the iphone business and who has $22/share in CASH. AAPL is NOT priced for perfection... it's cheap.

And a real inventory issue would show up on the balance sheet. Instead the balance sheet shows.... CASH.