Comment Re:Owning stock - so? (Score 1) 233
Your point is well-taken. Assets do include intangibles, which for a technology company like Apple is not insignificant. The art of investing - as opposed to the strict (and necessary) technical analysis of cashflows payable to investors - is to assess just how valuable intangible assets will remain and for how long in an industry that is synonymous with innovation and change. Apple is exclusively priced on the basis of being a growth stock into the indefinite future. On that basis, investors are betting (I use that word deliberately) that the product/service innovation will continue to roll on.