The Incredible Shrinking Apple

Apple had a good day. The market cheered the company's fiscal second quarter results despite the fact that the company's year-over-year profits declined for the first time since 2003

However, the big picture for Apple isn't as rosy. The company's stock price is down about a third over the past six months, Apple has lost its designation as the world's most valuable company and margins are on a downward trend. Apple's share of the worldwide smartphone market is 20% vs. 70% for Google's Android. Apple still has a commanding lead in tablets, but, if the fate of the iPhone is any guide, then the iPad's lead should also winnow away over time. Read more...