Research

Apple Inc.: explaining the tech giant's current strategy

Everyone knows the Apple turnaround story: a company nearly bankrupt in 1997 that became, at various points over the last decade, the most valuable public company on earth. That story is decades old now. The more useful question for an investor in 2026 is different: what kind of business is Apple *today*, how is it deploying its resources, and what does its current valuation imply about what ha…