The world's first trillion-dollar company

Let me tell you how Apple could reach the trillion-dollar mark – and why I doubt it will.

No company has been more relentlessly innovative in its field in recent years, period. Apple’s particular genius has been to expand that field, to be first or early in categories it defined, and then, when competitors caught up, pushed further. Its attention to customers borders on fanatical, not always in good ways. Still, Apple’s arrogant paternalism, which has pushed me away, is nonetheless felt by many customers to be preferable to the slapdash and customer-unfriendly ways of most Windows PC makers and the other smartphone sellers. And Apple’s dominance in the tablet market shows few signs of any plausible near-term challenge. …

[I]nnovation does emerge to challenge our assumptions. Ultimately, monopolists and the most powerful enterprises find themselves on the outside looking in to new territories and markets, as they try to defend old ones. Apple is more focused and relentless than most, but it, too, will reach a point where it is brought down – or at least challenged – by a new reality it either didn’t see coming or couldn’t master.