5 Reasons Wall Street Hates Apple

Oh no. Oh no, no, no. Apple reports second-quarter earnings this afternoon, and they're going to be awful. Horrid. $10.1 billion in profits, and $42.59 billion in revenue. Just... Wait, what?

Welcome to the world of Wall Street expectations, where stocks are stars and everyone wishes that the stars will fall. Apple is no different, and the company that invented the "Jesus Phone" is expected to be crucified by analysts after its profits actually drop. Apple's stock price has fallen roughly 42 percent - $300 or so - in just over six months, and investors are howling for some sort of change to return Apple's share price to its normal, upward course.

So who's to blame? Fingers have begun pointing at Tim Cook, the mild-mannered operational genius who succeeded founder Steve Jobs. The whispers aren't that Cook can't run Apple - he clearly can - but that the magic is gone. Where's the next innovation coming from, the product that not only moves markets, but creates entire industries? If it has one, Apple isn't saying. In the meantime, shareholders are clamoring for a piece of the pie, including the institutional investors whose offices are across the hall from the equity analysts.

Apple's problem, in a way, is the iPad mini. Shrinking down the iPad to a more manageable form factor wasn't Apple leading the way, but a reaction to competing tablets like the Google Nexus 7. Suddenly, the narrative shifted, and other possibilities opened up. Why not a phablet? An Apple TV? Could an Apple version of Ford's Sync be far behind? Apple now looks vulnerable - not to just to market forces, but to Wall Street's influence.

Here are a few reasons why the love affair between Apple and Wall Street might be over.

1. Stock Price

Apple's stock price has sunk from a high of about $700 to just over $405 in just over six months, a drop of about 42 percent. Who's to blame? (Image)

2. Tim Cook

Speculation that Cook may be forced out of Apple has been trickling in over the last several weeks, but with the company reporting earnings Tuesday, the rumors are getting a lot of hype, CNBC reports. Geez, you fall to second place in the most valuable companies list, and everyone's after your head. (Image)

3. They're Secretive

Hey, Apple! Tell us what you're doing so we can factor it into future earnings-per-share assessments. Wall Street would like nothing better than to rob the media of its page view-generating rumors and scandals, boiling down Apple's future performance to a spreadsheet. (Image)

4. Boatloads of Cash

Apple had $16.2 billion in the bank at the end of last quarter, and was on track to pass Brunei (as in the Sultan of Brunei) after this quarter's results were reported. Apple did report a $2.65 per share dividend as of February, but Wall Street always wants more cash thrown to shareholders (meaning itself). If you don't acquiesce, you risk Wall Street analysts stomping around on CNBC. (Image)

5. Different Form Factors

An iPhad? An iPadone? Topeka Capital's Brian White believes that "it is inevitable that Apple will need a 5-inch to 5.5-inch iPhone or 'iPhad' if the Company wants to remain competitive in China and elsewhere in Asia." That might be a little weird, given the stereotypical Japanese love of small things, but maybe Korean iPhone users have a case of Note envy?

6. I Want My iTV

In an NBC interview, Cook hinted that an Apple iTV could be in the works. "When I go into my living room and turn on the TV, I feel like I have gone backwards in time by 20 to 30 years," Cook said. "It's an area of intense interest. I can't say more than that." Analyst Gene Munster and other can't wait. They've been convinced an Apple-branded connected TV is due tomorrow, and they demand to have it today. (Image)