Apple could be the greatest consumer tech staple ever created. Sometimes we feel like we can't live without our phones, laptops, and airpods. Apple embodies everything a Mega Brand should be: high brand love, innovator of products and services we love and can't live without, globally dominant, demographically diverse consumer base, super strong balance sheet and quality management team. Would you expect a business described like this to trade at or below a market multiple? I certainly wouldn't. Apple is a core holding for the brands investment portfolio and we love the opportunity to buy more when it dips. iPhone sales and top line revenues have flatlined generally after a massive pull-forward from the pandemic but we expect sales to re-accelerate going forward as iphone 15 really kicks into high gear for consumers. In the meantime, they pay a small dividend that grows every year and they buyback a large part of the float every single year. There's always risk to any business but we see nothing systemic too stop Apples dominance, particularly as India ramps up.