There is tremendous growth left in the ARM/smartphone form-factor (not necessarily touch), because it will eventually disrupt the desktop. It would seem difficu

There is tremendous growth left in the ARM/smartphone form-factor (not necessarily touch), because it will eventually disrupt the desktop. It would seem difficult for apple to retain dominant marketshare (Android passed it already) once processors get fast enough that apple's ingenious integration isn't needed anymore, but apple will grow with it. Apple will also still have strengths of design, marketing, installed base of apps, AppStore, developers, experience in all of that, lower costs, ahead of the engineering learning curve etc. I agree that without Steve, they'll probably find it hard to pull off the next great revolution (like many companies without their firebrand founders, eg HP). IBM doesn't need to lose for apple to grow larger than them. You're right that their diversification gives them safety, but as Buffett says of growth: put all your eggs in one basket and watch that basket.