There' a reason that the stock is down 16.8% year to date, compared to a 15.8% return in the Nasdaq.
However, all is not lost at Apple. Milunovich noted the company has the key elements to continue to be a future brand, it just has to deliver on them. "Moreover, Apple has the elements required of future brands: offering something hard to come by, committing to a big idea, and being intensely human," he said.
-- Written by Chris Ciaccia in Newport Beach, Calif.>Contact by Email. Follow @Chris_Ciaccia