Many business sectors go out of their way to dress up as tech in order to get "tech valuations". Being able to project an image of owning the future makes wonde

Many business sectors go out of their way to dress up as tech in order to get "tech valuations". Being able to project an image of owning the future makes wonders for stock price and thus incentives. But the big picture in the last few years (pre-pandemic) has been that tech was maxed out and saturating. With the pandemic there was an excuse to pretend again that the sky was the limit. That attitude seems now being corrected - reverting to a cash-cow model. Some companies can do cash-cows better than others ;-) P.s. another factor where Apple tries to differentiate itself is the privacy front. What it believes in practice is a different matter, but to the degree that there are visible legislative headwinds this would make any tech company that directly or indirectly draws revenue contingent on current rules might be more cautious going forward.