How Apple's business model backfired

Apple is an iPhone business — and now that business has stalled. That's the message that echoed deafeningly throughout the tech world after Apple CEO Tim Cook took the rare step of issuing a warning regarding the company's upcoming results on lower iPhone sales. After the announcement, the stock collapsed. People were stunned. What was for some time the world's biggest company suddenly seemed fallible, and there is now a sense that the dearth extends beyond Apple, auguring an upheaval in...