True, but also Apple is in a far more dominant position today.
Alongside Nvidia they essentially monopolize TSMCs entire latest generation chip supply.
That’s a moat in hardware that is going to get even stronger over time. Given this hardware moat they can dip their toes gently into the B2B market they’ve never really cared about and pick up another few hundred billion in high margin revenue over the next 10 years no problem.
I’ve always found it weird that Apple’s entire org runs on Mac but no other Fortune 500 company on earth does. Seems like an opportunity to nibble away at Microsoft.
You want to be careful about who your customers are, and what they will do to you as an organization. Enterprise customers create enterprise teams create enterprise culture creates enterprise rot. Apple is wise to play to their strategic position as a consumer product company that lives or dies on great product, because when the buyer is the user thats what they demand.
The real strategic risk for Apple is if it overly locks-in users and falls back into complacency. The discipline of having to continually win customers with better product is ultimately the only thing that will cause them to thrive long term.