Why Apple is no longer a byword for innovation - just ask the markets

In the past two months Apple shares have lost more than quarter of their value

Which company would you say is going to grow faster in the coming years: Apple or Domino’s Pizza? Intuitively, we see Apple as an innovative firm with a forward-looking culture and disruptive ideas, while Domino’s Pizza operates in a traditional sector where growth opportunities are limited. Ask a recent MBA graduate whether she would rather accept a job offer from either company and I bet I can predict the answer with 99% confidence.

In the past ten years, Apple’s stock market performance has been outstanding. On an annual basis, the stock has been delivering returns of 32%, so that US$100 invested