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Apple: Bears Resurrect The Commodity Bogeyman

Apple's (NASDAQ:AAPL) stunning success in the December quarter has aroused in Apple bears a nostalgia for the good old days when Apple was on the verge of bankruptcy and the Macintosh was being overwhelmed by "commodity" PCs. This nostalgia now manifests itself in an argument by analogy concerning the iPhone: commodity smart phones threaten a repeat of what nearly happened to Apple in the mid-90s. But for many reasons that the bears ignore, 2015 will be nothing like…