WTF, Steve. Count me unimpressed with the iPad. Not only is the name terrible but it looks like nothing better than a big iPhone.

Seriously, you couldn’t come up with something cooler than a QWERTY keyboard on an oversized iPhone in the last year? Let me take over R&D.

I’m so upset I have nothing more to say.

Sincerely yours,

The Mayor of a very sad Main Street Stocks

Disclosure: I still own AAPL but I’m less excited about it.

If anyone can make a market out of tablets Apple’s a great candidate. They could leverage the iTunes Store and the reading apps could be improved to work with the tablet but I’m not seeing them growing earnings more than low double digits because of a tablet. And wouldn’t that cannibalize Mac sales?

What I think the hype should be about is the still floundering Apple TV. This is the best chance Apple has to make a game changing products. If Apple can add a little functionality:

1. DVDR/W – Ability to read a write DVDs. If I’m going to spend money on an HD movie I’d like it to be portable and usable after I throw out my Apple TV.

2. Cable DVR – Someone has to get us off the monopoly cable companies and their DVR players have. If this functionality materialized I would be the first one in line.

Rentals and HD purchases have already been added since Apple TV was introduced. It’s just looking for the push over the edge to becoming main stream. A cable TV subscription rumored a month ago could be another option. As could a TV with Apple TV functionality built in.

No matter what they introduce in January I think the stock has gotten very expensive. Apple’s current market cap is approaching $200 billion. Only a handful of companies are that large. It puts a big target on their chest in a challenging industry. I’ve been selling Apple shares over $200. I think it’s a great time to cash in some nice gains, although it pains me to sell a great company.

Disclosure: The author owns AAPL.