Apple: A Gilded Cage?

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It is said that fortunes are built on innovation. A pleasing narrative, certainly, and one that allows the comfortable to justify their comfort. One observes, with a certain detached amusement, the pronouncements regarding “traits to seek” in these…ventures. As if a diligent cataloging of cleverness could ward off the inevitable absurdity of it all. Consider, if you will, the tale of Apple. Twenty years have passed, and the numbers, they claim, have swelled to a most impressive degree – ten thousand, six hundred and fifty percent. A figure that threatens to detach itself from reality, to float away on a cloud of…optimism. They add, with a meticulousness that borders on the pathological, that including the reinvested dividends, one arrives at twelve thousand, seven hundred and thirty percent. A number so precise it feels…manufactured.

A Trip Down Memory Lane (or a Descent into the Peculiar)

Apple, they say, has been “incredibly successful.” A bland pronouncement. One might just as easily describe a particularly persistent fungus as “incredibly successful.” In the early years of this century, it was the iPod, a device for the conveyance of music, that propelled this company forward. Four hundred and fifty million of these little boxes were sold before they were…retired. As if they’d grown old and frail, and simply faded away. A curious thought, that machines possess a lifespan. Then, in 2007, came the iPhone. They claim it was a “single greatest” invention. A bold claim, considering the history of mankind is littered with inventions that, while not quite “greatest,” were at least…useful. It cemented Apple’s position, they say, as a “cultural icon.” As if culture were something one could simply acquire through clever marketing. The market, predictably, thrived. The iPhone now accounts for 59% of Apple’s revenue in the first quarter of their fiscal year 2026. A dependence, one might observe, that feels…precarious.

The MacBooks, iPads, Watches, and AirPods have all enjoyed a similar…affection. Over 2.5 billion devices are now in circulation. A staggering number. One imagines them multiplying, spreading across the globe like…well, like a particularly efficient plague. Supporting, they say, an “expansive ecosystem.” An ecosystem, naturally, from which Apple extracts its sustenance. It is, after all, a business. A colossal enterprise, indeed. A market capitalization of $4.1 trillion. The second most valuable company on the planet. A figure that inspires not awe, but a profound sense of…unease.

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Investors Will Benefit From Earnings Growth (Or So They Say)

Profits, they assure us, will rise. A comforting prediction, particularly for those already invested. Apple’s revenue soared 16% in the first fiscal quarter, and earnings per share increased by 18%. Analysts predict an annual growth rate of 11.5% between 2025 and 2028. A neat, predictable curve. Too neat, perhaps. The price-to-earnings ratio stands at 34.9, which they deem “fairly valued.” As if value were something one could simply assign.

The stock will rise, they say, provided this valuation remains constant. A fragile condition, reliant on the continued…delusions of the market. Investor sentiment, however, is a fickle beast. Should they decide, for whatever reason, that Apple is falling behind in the age of artificial intelligence, all bets are off. The potential for optimism will vanish, replaced by a cold, hard…reality.

That bearish a perspective is, they claim, unwarranted. Apple shares will march forward. But they might not beat the market. A subtle distinction, but one that reveals the truth: This is not about triumph, but about…survival. A slow, steady ascent, fueled by the relentless pursuit of…more. And in that pursuit, one suspects, lies a certain…tragedy.

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2026-02-10 09:22