There are about 5.5bn adults on earth; 5bn now have a mobile phone, 3.5-4bn have a smartphone, and 800m of those smartphones are iPhones. We connected the Earth, and Apple did pretty well out of that. The trouble is that once you connect all the people, there are, well, no more people, and growth becomes a challenge. So smartphone sales are flat-to-down year on year, Chinese smartphones sales are down and iPhone sales do not have as much growth ahead as they had in the past. Boring. What next? There are two conversations for Apple here. The first is that, just as when the iPod was The Thing and people wondered what was next, Apple has Projects. For example, some sort of car project has been ... »