Earlier quoted context omitted.
Agree the sky is the limit for Google's future but there's always some risk that FB or Baidu or someone could come in and take 80% of Google's users. Aso by any reasonable measure Apple's market cap should be well over a trillion. Take away their $165 billion cash pile from their $465 billion market cap, give them 0% growth and you're left with the idea that Wall St's expects Apple to be turning out the lights in 4 o…
The big reason investors are skeptical with Apple is that there is no guarantee they can pull the same revenue without creating a hit product every two years. Once the revenue starts to shrink, things go downhill very quickly.
The idea that revenue from Apple lines quickly fades after 2 years doesn't seem to square with history. Desktops growing for over a decade, finally fading due to laptop cannibalization. Laptops growing for over a decade, perhaps stable now and fading in the future due to tablet cannibalization. Music player grew for better part of a decade until heavily cannibalized by phone. Phone still growing 7 years after introduction. Tablets still growing 5 years in. But even if you throw their growth away and say they do 0% for next 4 years the market cap doesn't add up.