Monday Note:

I have no trouble with the Law of Large Numbers, it only underlines Apple’s truly stupendous growth and, in the end, it always wins. No business can grow by 20%, or even 10% for ever.

But, for the other three, Market Share, Commoditization, and Modularity, how can we ignore the sea of contradicting facts?

Part of the reason why it seems Wall St doesn’t understand Apple is because the company’s operations don’t conform to so many commonly held beliefs about economics and business.