[jonhendry]

"but there appear to be sufficient statistics to back up Gupta's assertions:"

One of Gruber's points is that Apple never had the most market share in smartphones. So they haven't lost anything in that respect.

But Apple had, and still have, most of the profits from the smartphone market, with Samsung coming in a distant 2nd, even now, at about half of Apple's iPhone profits. And the other vendors are losing money.

[polemic]

Sure, but it's also largely irrelevant.

Movement of stock price is the metric that Gupta's audience is interested in. Apple's current profit margin is already priced in - a reduction in profit (via an increase in margin, loss of market share, etc) is as good as a loss, from the investors perspective.