[darwinwhy]

Services revenue is at risk due to increased antitrust scrutiny worldwide. The more Apple focuses on services, the bigger the potential downside on their valuation.

[neom]

On the plus side, they have ~24 years of runway in the bank just in case things go south. :)

[dev_tty01]

There is only antitrust scrutiny on the app store. They have a lot of other growing revenue sources in their various services businesses.