Passionate article, but glosses over and just misses a few fundamentals...
Apples main income source by far is the iPhone. That market has been growing for years allowing Apple to post 'record sales' year after year. That market growth is coming to an end, and the high end portion of the market especially is essentially saturated.
Despite that massive growth and record sales in terms of unit sales- Apple posted -10% in profits from the prior year. How many people here think they would be 'worth more' or happy if they took a 10% pay cut in a year? With their best quarter behind them for this fiscal year, and with their current guidance, Apple is looking to make less money again this year, or maybe break even with last year at best.
Apple really does need their 'next trick' to turn around their profit decline. Apple will still make insane profits on phones for many many years, but that is going to get whittled away year after year. I think their plan with iTV was to follow the iBooks model and do an 'agency plan/mfn' combo that would raise all our prices by 30% and give the lions share of that to Apple. With that thwarted their next focus looks to be wearables. I like what I've read on their wearables, but in order to have any real impact on Apples financials they really have to be a huge thing and highly profitable right out of the crate. That's a tough order for Apple. Whatever they do it has to be of a magnitude that it impacts the massive (but declining) behemoth that is iPhone profits.
Google, on the flip side, has gone- and continues to go on- quite a few long shot boondoggles. They make no excuses and are quite open about taking on quite risky projects. *Despite* all their risky R&D ventures and despite whatever losses they may have taken on Moto... their profits continue to grow nicely. By almost the same 10% that Apple's profits declined. And that is despite they 'alarming' issues pointed out in the article. PC's declining and mobile taking over the future! Actually, PC's are still nicely around 70% of where the online shopping occurs. Mobile is still a fraction of the online components- but continues to grow. While sales of tablets and phones may be hurting 'PC' sales directly, how much shopping people do online continues to grow, and so Google's market is still growing (despite them not having the same relative dominance in mobile as they do in PC advertising).
Apple's profits from phones, tablets, and Macs are expected to continue to decline. The fact that despite that their share price went up is a testament to how much faith the markets have that Apple will come up the next big hit.