9to5 Mac points towards an investment note that shows why Wall Street analysts are the worst people to pay any attention to if you want cogent thoughts about Apple’s future.

Says BTIG analyst Walter Piecyk:

The bottom line is that if Apple can’t deliver products, Tim Cook may have to pay the price. This is a public company. The shareholders own the company and they want profit growth. Making great products is a noble goal but if it doesn’t grow the business despite the massive market opportunity that exists that would be a larger strategy problem.

Didn’t this guy ever read The Lorax? Biggering for biggering’s sake does not come without consequences.

As Siegler points out, iPhone is responsible for nearly 60% of Apple’s revenue. That’s a product that all by itself is bigger than Microsoft and is more profitable than just about any non-energy business on the planet. And it was created by focusing on making great products.

Regardless, what could Apple make that would drive profits in a meaningful way in the shadow of such a massive business? Watches? TVs? Oil and natural gas production? Also, let’s not forget that the China Mobile deal means the potential for iPhone growth continues for a while yet. Also also, Apple’s profits are still growing. Maybe not as fast as before, but you know, there are only so many people on the planet. It’s the insane push for profit growth at all costs that make companies do stupid things. Buy companies they shouldn’t. Produce products they have no business making. Lowering prices to chase higher unit volume. Apple, so far, hasn’t shown itself to be that short-sighted. They’re playing a longer game.

The real bottom line is Apple is only successful because they focus solely on making great products. If that’s not a business investors want to invest in, they should divest themselves of AAPL and find someone as short-sighted as they are to put their money behind.