Market cap is a nearly useless measure, especially on a large company.<p>Apple's stock price is based not on current or even future value, but on being big and a low-risk investment for mutual funds and other institutional investors. Can we stop pretending it's a measure of success, value, or consumer preference?<p>Let's end this silliness. Do we really believe Apple is more valuable than Google + Microsoft? Do we really think they impact more users, or have a greater reach than those two companies combined? Nearly every computer in the world runs Windows, and Google organizes the world's information and delivers it to more people than anyone else.<p>Apple sells phones, and occasionally a computer, but not very many of either relative to their markets. Roughly 60% of their valuation and revenue come from a rapidly-aging product in a mature market.<p>If I were on Apple's board, I'd be terrified of what that stock price represents - that my job is now only to continue existing. Not to do great things, not to risk everything on a new product, and not to have vision or leadership. Just to continue existing.