
Stephen, I think you don't seem to get the consumer electronics market. First of all, there will always be a new generation of consumers to create new demand. Then there is the replacement cycle by existing consumers, and for iDevices, this will tend to be 2 or 3 years. A lot of iPhone 3GS users will be replacing ther devices with iPhone 5 and also adding on iPads. Then there is also a new category of users attracted to the iDevices like iPods who will purchase iPhones, iPads and Macs. Then there is the AppStore world, which is a growing revenue source. There is Apple TV offering purchase or rent of movies and TV programs. The iTunes Music store is currently the largest retailer of music, and this week Walmart pulled out of digital music market, meaning that iTunes will continue to grow and shallow smaller competitors. The only remaining credible competitor for Apple in the digital music distribution is Amazon. Then the iCloud. A lot of potential. Apple may also enter the home electronics market with a real Apple TV. Other markets like in vehicle systems for entertainment and navigation are still undeveloped, this is a potential area for Apple So you see Stephen, they cycle will tend to repeat itself.