Apple’s Growth Machine Is Finally Starting to Sputter
Apple has been corporate America's most ridiculously unbelievable growth story. And now it's over. Take a deep breath. Exhale. Get used to it.
Yes, the Apple we have come to know was a gravity-defying growth machine. Apple is the most valuable company in the world, yet it increased its revenue in the last 12 months by more than last year's sales at Coca-Cola. Apple rang up enough operating cash in the last year to buy 625,000 Tesla Model X cars – nearly one for each person in San Francisco. (I'll take blue with tan leather interior, please.) The company has given us so many eye-popping numbers that any feat short of Tim Cook colonizing Mars is underwhelming.
With the setup of high expectations, the most crucial numbers are now more low-Earth orbit than deep space. Unit sales of the iPhone for the three months ended Sept. 26 climbed 22 percent from those in the period a year earlier. Just a few months ago, Apple sold 60 percent more iPhones than it did a year before…