AAPL is priced for perfection...
In the most competitive space in tech...
Last I checked they has 18% smartphone share...
And tech is all about massive reversal of fortune.
This post has a 1986 Playboy interview with Jobs:
http://www.zerohedge.com/news/tmz-po...er-resignation
The Apple II has a 60-70% market share in early 80s...
The Mac in 1984-5 probably peaked with a 30-40% share...
Before bottoming out at < 3% in the late 90s.
The best product often loses the race...
Corporate/government is where the money is.
And being a Cult does not matter much in the end...
Cults can go from 30% share to 3%...
And still be a cool, hardcore Cult.
Also, visionary leadership is not a commodity...
Only people with no vision believe it can be.