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To summarize the comments here...

Apple sells outrageously-overpriced commodity technology, coupled with gimmicky features, buggy software, and planned obsolescence, to naive consumers who buy it every year regardless.


Apple’s products are so well-designed and reliable that customers remain satisfied for years and don’t feel the need to upgrade on an annual basis because their current devices do everything they need.

Also, Apple’s constant incremental innovation combined with the fact that they stopped all innovation a decade ago (save for headphone jack removal) will be the death of the company.

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