I have been following Apple for quite a while now, and its trading history for the past year reflects the fickle sentiments of the market.

There was little doubt that under Steve Jobs, Apple was a fantastic company: a poster child of innovation, brilliance and cutting edge technology, combined with incredible returns on capital and a solid balance sheet to boot. I recommend reading Steve Jobs by Walter Isaacson to see the incredible amount of influence Jobs had on the corporate culture of Apple.

2012 was a challenging year for Apple. The emergence of Samsung as a dominant player in the Smartphone industry and the bumbling of key releases such as iOS 6 and the maps fiasco were just some of the challenges it faced. For me, the transition in leadership was the most pivotal.

Apple is unique in many ways: it enjoys an unparallel following, not only by its ...