Apple will revert to the mean
Apple’s had a nice run (until recently). It’s made some people quite wealthy and has crafted legacies, which I fear, are largely inaccurate. These are the sorts of legacies lead to the commissioning of bronze statues for display in public areas and/or terrifying holograms.
But an Apple run can’t last forever. Apple—in its current form—will revert to the mean. It’s as sure a thing as gravity, almost.
The reasons include competition, inertia, organizational atherosclerosis, and costs. Already Apple products massively depend on marketing to differentiate its offerings from, for example, Samsung’s.
There is a third way, of course, which defies the laws of gravity, economics, and reverting to the mean. It’s called crony capitalism and it possesses an evil twin called regulatory capture.
Hey, this third way worked for Warren Buffett…