And yet Apple today is under siege. From the moment in late 2007 that Google unveiled Android — and its own plan to dominate the world of mobile phones and other mobile devices — Google hasn't just tried to compete with the iPhone; it has succeeded in competing with the iPhone. Android has exploded in popularity since it took hold in 2010. Its share of the global smartphone market is approaching 80 percent, while Apple's has fallen below 20 percent. A similar trend is under way with iPads: in 2010 the iPad had about 90 percent of the tablet market; now more than 60 percent of the tablets sold run Android.

When Cook presented the latest smartphones in September, the iPhone 5c and the iPhone 5s, Apple's stock fell 10 percent. A year ago the company's stock price was at $702 a share, making Apple the world's most valuable corporation. Today, it's down more than 25 percent from that peak.