I'm not convinced.

The mobile phone business is notoriously fickle and difficult to make a profit out of. Even the giants such as Nokia and Sony Ericsson have lean years (usually towards the end of a product cycle). Apple's PC business seems to be becoming even more obscure than it used to be, and Linux has run away with any potential business from the poor launch of Vista, which Apple should have been ready to cash in on.

Microsoft are taking an ever increasing slice of the Smartphone market (while cleverly staying away from the hardware business; more profits in software). The Jesus phone meanwhile uses proprietry (and heftily locked down) software in a single device.

As for the iPod+iTunes, as the industry moves towards more DRM-free music, and formats that are compatible with many devices, I believe their business model will become increasingly unsustainable. Do they have the ability to alter that model quickly enough and sustain revenue streams?

Mine's the one with the copy of Windows 7 in the pocket.