Apple is royally fucked alright, but not because of the toxic culture that killed Nokia, nope Apple is fucked for an entirely different reason and that is the "new hotness" problem.
You see Apple has gotten spoiled by being the "only game in town" and thus being able to command premium prices but there is a downside to that strategy and it is thus...the longer they stay in a market? The more competition will show up and they'll end up in a race to the bottom which is something they are NOT interested in. We see this in both the PMP market, which now has dozens of iPod knockoffs (although frankly I think the whole PMP market is doomed, to be replaced by phones and tablets) and more importantly in both the phone and tablet market, where dozens of sub $200 smartphones and tablets give as good or better than Apple at MUCH lower margins.
And for THIS reason is Apple fucked, they are a victim of their own marketing strategy and their stock expectations. To keep the stock up they HAVE to be "the new hotness" and find new markets to sell premium products to, they won't be able to continue to command premium prices when they are faced with competition offering as good or better for half the price, but where do they go now? The whole "smartwatch" bullshit? Its gonna be a flop, most young people aren't even wearing watches anymore from what I've seen and why would you bother paying $250+ for a watch that REQUIRES a smartphone to be useful, when you could use that money to get a better smartphone that frankly will do everything the watch does AND not need to be tethered to another device?
So unless Cook can pull out a new market from his rear Apple has nowhere to go but down, at the last Hong Kong expo they were showing off dual core phones and tablets running Android 4.x that will retail for less than $100 USD, those kinds of low margins just aren't something Apple wants but without a new market they have no choice but to try to compete which will kill those sky high profits they have been making. Just look at how they have been keeping older designs manufactured and have come out with the mini, despite Jobs saying it was a dumb idea, its because they are already feeling the pressure from the low priced Android units. Problem is folks already have tons of mobile power, like X86 adding more performance is gonna equal diminishing returns simply because folks aren't taxing the new ones to any great extent, why buy a quad core with worse battery life when that dual core you already have works great?
Without a new market they are trapped in a market that is more cutthroat by the day, with prices dropping by the day, and Apple has never been interested in taking razor thin margins for their products.