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  1. Market Too Pessimistic on Apple

    Apple's gross margins likely will shrink over time, but the market is underestimating the long-term potential of the iPhone, says Morningstar's Brian Colello.

  2. Apple's Moat Will Endure

    Although Jobs is irreplaceable, Apple has built an ecosystem that will continue to be successful years into the future, says Morningstar's Michael Holt.

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