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The author is a complete moron. The 'cyclical' nature of Apple's business relates less to the overall business and more to Apple's approach of developing a business, helping it mature, and then inventing a new technology that builds a new business. Then sucking all the crunchy goodness out of that and moving to the next one.
Apple's long term product is disruptive innovation. Comparing the same 'investment rules' between a stogy buggy-whip maker and a distruptive and innovative business is stupid.
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It's true that most manufacturers of technology produce commodities, but Apple totally changed that. Apple makes hardware that people lust after.
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Just a guess, another click whore rant with a tiny bit of truth? Not even going to read it.
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Apple at the top of their game and they're still doomed...
Amazing.