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Opinion
Shira Ovide

Apple's Growth Machine Starts to Sputter

The company has fallen into an unhealthy reliance on the iPhone.
Chunk of Profit.

Chunk of Profit.

Photographer: David Paul Morris/Bloomberg

Apple has been corporate America’s most ridiculously unbelievable growth story. And now it’s over. Take a deep breath. Exhale. Get used to it.

Yes, the Apple we have come to know was a gravity-defying growth machine. Apple is the most valuable company in the world, yet it increased its revenue in the last 12 months by more than last year’s sales at Coca-Cola. Apple rang up enough operating cash in the last year to buy 625,000 Tesla Model X cars -- nearly one for each person in San Francisco. (I’ll take blue with tan leather interior, please.) The company has given us so many eye-popping numbers that any feat short of Tim Cook colonizing Mars is underwhelming.