Just as Wall Street is nervous about AAPL’s changing revenue
sources, Apple’s ultimate success is built on that very ideal.
Even though Apple was the “iPod company” yesterday and the “iPhone
company” today, management’s goal is to make sure that Apple will
one day be known as something else, such as the “car company” or
the “personal transport company.” This isn’t to suggest that Apple
will change its culture and mission statement depending on where
growth can be found. Instead, management looks to enter product
categories that make it possible to advance Apple’s goal of making
technology more personal. In the beginning, such a goal was
achieved with the Mac but soon included the iPod, then iPhone and
iPad, and now Apple Watch. […]
While AAPL investors look at changing revenue sources and Apple
entering new industries as risk factors, for Apple such
characteristics are normal business and according to plan. It is
this divide that will likely continue indefinitely, suggesting it
is unwise to expect AAPL to one day begin to follow Apple. Just as
a declining AAPL stock price is no indication of a struggling
Apple, there will likely come a time when AAPL outperforms peers
even though Apple, the company, may be struggling.
Part of what makes Apple so interesting to write about is that the company is so widely misunderstood.