19 May 2016 Bruce Greenwald on Apple ( Portfolio )

“How sustainable are these profit levels and how big are the barriers? The fear with Apple is that it will get overwhelmed by new entry and new competitors. The moat doesn’t seem that big. It’s not just giant rivals like Samsung, but smaller companies that can survive with even a small share of the smartphone market.”

“If you believe the iPhone will be the global standard in 25 years, you’d buy” Apple stock, Professor Greenwald said. But many value investors have already seen where smartphones can go, “which is where PCs have already gone.”