, Columnist
Apple Shifts Out of the Fast Lane, Perhaps for Good
The company is a cash- and profit-generating machine, so don't sweat growth that's no longer turbocharged.
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Even if Apple's next iPhone proves to be a hit, it may seem like a letdown.
The company's stock price and valuation have been on a tear this year as investors look past the company's transformation into a highly profitable but slow-growing leviathan. Shares have climbed 27 percent, outpacing most of the other technology superpowers, thanks to unshakable optimism about a sales rebound coming from the next versions of the iPhone.