Re: lets look at this in another way..
"Of course Apple will survive, because as has been shown there is a value in the cachet of owning a Apple product, but can it still grow and maintain the same margins?"
Looking out the window at the iPhone 6 line wrapping around the block I'd say:
But that could change tomorrow! Err...well, perhaps not tomorrow, maybe once this weekend is over. Or next month, or maybe probably next year sometime. The iPhone has only been around for 7 and a half years, so people will probably snap out of this fad soon.