You're desingenous so I cant take anything you say seriously considering what came out since then.
With Apple's relatively low PE ratio, that seemingly follows profits/revenues unlike other tech companies and Apple's margins, there is a link.
Company Valuation for a company that's a thriving concern = present value of future cash streams with irr X.
You can't keep up this high cash flow with current margins and you can't keep current margins without innovation, good service and generally good products.
Unless you think people with the highest demos (Apple clients) all only idiots (except you off course...) while buying Apple products and going against their best interests in doing so.
It's simple, you can't charge a high margin for a very long time if people think your product is "crap" or "bad": that's it.
Any other definition you pull out of your rump doesn't matter to business, innovation and economics.