Theories of giftedness meeting high standards are crucial for understanding, identifying, and studying gifted individuals. These theories need to (a) be based on relevant assumptions and research, (b) be understandable and falsifiable, (c) provide guidance for identifying and fostering giftedness, (d) describe, explain, and predict gifted behavior over time and place, and (e) generate new applications. Six components of current theories of giftedness will be discussed: intelligence, sources of giftedness, social responsibility, creativity, gender, and the environment. Models exemplifying each component will be analyzed in terms of how well they meet the standards. Finally, conclusions and recommendations will be offered.