I think Jobs' real genius was actually assembling teams. He was extremely visionary, but he was also amazing at inspiring top-level talent. I think entirely writing off Apple's ability to innovate or find new markets is a bit premature.

This may be unpopular, but I sort of think that the 25% haircut Apple has endured is a market correction bringing the stock back to more honest numbers. Investors got ahead of themselves. I'm not sure they ever deserved to be trading north of 700. Even the best performers can get overvalued in the hype cycle. Apple has fallen to 527 per share with half a trillion dollars in market cap. That's still pretty healthy, especially backed by their financials.