Admiration for Apple: What Goes Up Must Come Down?  Last week,
for the fifth year in a row, Fortune named Apple the world's
most admired company. For Fortune readers, that's no surprise.
They're interested in sound investments, and everything at Apple
is up: the stock price, revenue, sales, you name it.  And even
to those of us whose relations with Apple over the years haven't
been exactly delightful (I worked for Macworld in the late 90s
and interviewed the late Steve Jobs when he was at NeXT), its
latest trajectory has been impressive. From iMac to iPod to
iPhone to iPad, Apple can seemingly do no wrong.  Or can it?
Throughout its history, Apple has cycled multiple times from
outcast to success, from success to arrogance, from arrogance to
abyss, and from abyss back to bet-the-company success. Let's
recap.  From Mac to Microsoft  Apple's first roller-coaster ride
of success led to the zenith of the Macintosh in 1984. In the
abyss that followed, John Sculley fired Jobs and co-founder
Steve Wozniak left the c