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A customer holds up an Apple iPhone 5 (L) and iPhone 4S in Brussels in this September 28, 2012 file photo. After five years of explosive growth sales of high-end smartphones have hit a plateau and the $2-trillion industry - telecom carriers, handset makers and content providers - is buckling up for a bumpier ride as growth shifts to emerging markets, primarily in Asia.
A customer holds up an Apple iPhone 5 (L) and iPhone 4S in Brussels in this September 28, 2012 file photo. After five years of explosive growth sales of high-end smartphones have hit a plateau and the $2-trillion industry - telecom carriers, handset makers and content providers - is buckling up for a bumpier ride as growth shifts to emerging markets, primarily in Asia.
(Yves Herman/Reuters)

FINANCIAL TIMES

Apple’s just another huge tech firm – for now

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Apple Inc. earnings, as it turns out, can be boring. This will take some getting used to for observers who, first, relished the viscous thrashings the company gave analyst expectations in 2011 and 2012, then sat in growing horror during the past year as earnings growth slowed, then went negative.