Wrong target! AMZN is the unstoppable one. Everybody says it would disrupt and destroy many industry.
WS has always viewed Apple as very vulnerable and accord a low P/E because:
a. A hardware company… a mismanagement of inventory can be disastrous;
b. Depends on product hits with consumers… consumers are fickle and they change taste frequently;
c. Post-SJ hence not innovative; and
d. Law of large numbers, too large and can’t grow anymore.
Have yet to read articles that say Apple is unstoppable. Not sure where you read this position. In fact, there are many articles that say Apple is doomed and death knell articles are plentiful.
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