You're underestimating the cost of compute. This bubble will pop and likely take the market with it (oracle, coreweave, equinix, nvidia), ai capex is deranged. Margins may make sense eventually, but the infrastructure (chips, energy, data centers) needed for compute will remain a monopoly. Its a dotcom replay, and companies that survive (like Amazon) will dominate. Apple is prob in the best position, having not been duped by manic ai investment.