If so, a dollar plunge might look more like the pre-condition for the October 1987 stock market crash than the healthy dollar weakness at the start of the 2002-2003 expansion.
The disappointing jobs report could have the effect of providing the catalyst for the stock market to correct enough to alleviate that overbought condition and cool investor sentiment off to a healthier level.
Existing investors slapped the company with shareholder lawsuits, accusing Tauber of selling out when the stock was higher last fall and concealing the company's financial condition.
So at this point in the economic recovery he would probably welcome a stock market pullback of at least enough to alleviate the bubbly look of its current overbought condition.
Obviously, we do not expect a return to the glory days of the late 1990s, but Apple's financial condition looks remarkably similar today as it did back in 1997 when it made its initial appearance as stockof the month.