> Apple has never had a moat, anyone else could have built this sort of hardware but they haven't.
I think both points are very incorrect. Apple has a massive moat. And Apple is making hardware (specifically, CPUs) that are two years ahead.
I think both points are very incorrect. Apple has a massive moat. And Apple is making hardware (specifically, CPUs) that are two years ahead.
Unlike the "pure" AI players, who rely on NVIDIA and others, Apple is relying on its own capabilities, vertically organized, to maintain its lead in consumer space.
They are using the "cloud" to again, vertically integrated, to preserve their "privacy first" consumer marketing, their hardware to maintain their "premium product" lead, and they are usually second to a market after a first-mover advantage has been reduced by ongoing development.