Let me just toss it out there: Blaming Tim Cook for Apple's lack of oomph is, at best, narrow and more likely, misguided.

While Steve Jobs may have been better with the kind of theatrics and execution that come with having been anointed an icon, as his death showed: He was also only human. He catapulted Apple well ahead of the curve on innovation and coolness and sheer execution.

But even as he was dying, Apple was headed for a collision with reality.

On one hand, the likes of Google and Samsung were becoming increasingly competitive. And, as I wrote back in October, Apple appeared to have finally "just struck that point that all fast-growing companies hit—where its phones and operating system are so good they can't really technologically leapfrog themselves in a meaningful way."

(Read More: Apple Stock Price Bottom May In)

Face it, Apple matured—and it did so with lightning speed after leaving behind a trail of products and technology in the kind of compressed period many of us (depending on our ages!) may never see again. Investors have taken notice: Shares of the company are down nearly 40% from their high of $700 last September.

The Great Rotation may not yet consist of a mass rush out of bonds, but wait until investors see their quarterly statements.

It's another morning of rising rates, following on yesterday's jump. It would help the markets to see some stability.

Higher interest rates on top of a very fragile global recovery is a recipe for falling back into no-growth.

Check out which companies are making headlines before the bell on Tuesday:

Lululemon — The apparel maker reported first quarter profit of 32 cents per share, two cents above estimates, with revenues also beating forecasts, and its current quarter projections are also above consensus. The company also announced CEO Christine Day will be stepping down as soon as a successor is found. She released a statement saying that now is the right time for a CEO who will drive the next phase of the company's development.

Texas Instruments — TI narrowed its current quarter revenue projection in its mid-quarter update, with the chipmaker now expecting sales of $2.99 billion to $3.11 billion, compared to the prior range of $2.93 billion to $3.17 billion. The company calls the current environment "very encouraging".

Sprint Nextel— Japan's Softbank increased its bid for Sprint to $21.6 billion for 78 percent of the company, compared to the prior offer of $20.1 billion for 70 percent. It's also increasing the cash portion of its proposed deal, as it tries to counter a competing bid from Dish Network (DISH) for Sprint.

Stock traders have their eyes on the bond market this week, as interest rates continue to adjust higher.

The issue is just how much higher, and that will certainly be a topic of interest on Tuesday when there is little data for markets to chew on.

"I think the fact the bond market has just continued this relentless increase in rates is clearly negative news to the equity market. We're well past the 30 basis points benign increase," said Barry Knapp, head of U.S. equity portfolio strategy at Barclays. "We went from 2 percent (10-year yield) early in the year, back to 1.60, then you got back to 2 percent. Anything from here becomes a bigger and bigger issue."

Check out which companies are making headlines after the bell Monday:

Lululemon Athletica - The yoga apparel retailer posted earnings of 32 cents a share on revenue of $346 million, edging past expectations for 30 cents a share on sales of $341 million. In addition, the company handed in current-quarter guidance that exceeded Wall Street consensus. But shares slumped in extended-hours trading after the company announced its CEO Christine Day will step down.

(Read More: Stocks End Flat in Choppy Session; Apple Slips)

Corinthian Colleges - The for-profit education company received a subpoena from the SEC, according to an 8k filing. In a letter accompanying the subpoena, the SEC stated that it is conducting an investigation of the company. Shares declined after being temporarily halted in extended-hours trading.

Texas Instruments - The chipmaker said it expects to earnings of between 39 cents a share and 43 cents a share on revenue of between $2.99 billion and $3.11 billion in the second quarter, against current estimates for 42 cents a share on sales of $3.06 billion. Shares slipped in extended-hours trading.

Before the NSA/Snowden/Booz Allen Hamilton story became a story, there was little public chatter about the "third party" nature of intelligence and defense subcontractors.

Yet it's a way of life in the incestuous world of Washington, one that Booz Allen spells out in typically matter-of-fact style in the "competition" subsection of its annual "10-K" SEC filing.

In the wake of Booz's disclosure that whistle-blower Edward Snowden had been an employee for three months, the company's public disclosures take on new meaning—especially this one that that normally would slip under the radar as mere boilerplate:

"In the course of doing business, we compete and collaborate with companies of all types and sizes. We strive to maintain positive and productive relationships with these organizations. Some of them hire us as a subcontractor, and we hire some of them to work with us as our subcontractors."

Check out which companies are making headlines before the bell on Monday:

Apple — Apple holds its annual Worldwide Developers Conference today, and is expected to unveil new operating systems, as well as a radio service widely referred to as iRadio.

Elan — Elan rejected an increased takeover bid from Royalty Pharma, saying still undervalues the company. Elan is now evaluating inquiries from other interested parties.

AstraZeneca — The company will buy privately held U.S. drugmaker Pearl Therapeutics for up to $1.15 billion. It will pay $560 million up front, with additional amounts to be paid depending on the achievement of certain developmental and sales milestones.

After a week of wild swings, stock bulls will try to keep control of a market that has few catalysts in the lull between May's employment report and the next Fed meeting June 19.

U.S. data in the coming week includes Thursday's retail sales and weekly jobless claims, and PPI inflation data and consumer sentiment on Friday. But traders will perhaps be more focused on Tokyo early in the week when the Bank of Japan holds a two-day meeting that could make a difference to world markets still reeling from the past week's volatility.

The U.S. Treasury is also auctioning $66 billion in 3- and 10-year notes and 30-year bonds, of interest after another week of sharp moves in fixed income markets.

Take a look at some of Friday's midday movers:

Stocks rose sharply and all three major indices turned positive for the week following better-than-expected monthly jobs data.

Wal-Mart gained ground after the world's biggest retailer announced a new $15 billion share repurchase program. The repurchase plan replaces the previous $15 billion program announced in June 2011.

Iron Mountain was sharply lower following news that U.S. tax authorities are questioning the document storage company's proposed conversion plan to become a REIT.

Stocks rose with the dollar and bond yields, as traders viewed the May jobs report as strong enough to signal continuing economic growth, but not so strong as to push the Fed toward a wind down of easing.

In another volatile session, markets Friday unwound some of the maneuvering that took place Thursday, when some traders in the bond market were expecting the jobs report to be far weaker. The markets have been fixated on when the Fed will begin to slow down its bond purchases, and there's been a lot of volatile trading as Fed officials discussed "tapering" purchases in the past several weeks.