Apple Inc $AAPL - A Valuation On 27th September 2021

The first $2T company in US history has a lucrative ecosystem of products and services. Will vertically integrating the business further help them manage costs and defend margins?

Summary

Apple changed the game with the iPhone and have built a lucrative ecosystem of products/services around this. They’re continually reinvesting in R&D and acquisitions and will continue to expand into new markets and products. Disruptive innovation here is unlikely, and the name of the game is incremental improvements. By vertically integrating the…