This week it was hard to miss Apple's earnings release. On Tuesday they announced their first quarterly drop in revenues for 13 years and the first ever fall in iPhone sales. The stock is down 29%, from it's peak last May, whilst the firm has lost well over $100bn in value.

If I was Sky, Netflix, Amazon, Spotify, Ford, Tesla, Fitbit, PayPal... etc., I would be nervous. Why? Well - for starters - Apple is sitting on a $200bn cash pile in off-shore reserves alone, and is now under intense scrutiny from shareholders to do something with it. The pressure is on to 'invent another category'.

In the UK, if Apple decided to buy the rights to the English Premier League and relaunch it's TV product, it could do so - easily. What would that do to Sky's, or BT's, business model?

Earlier this week we heard Ford's boss, Mark Shields, say that they 'work on the assumption that Apple is building a car', and it's no secret they have already hired Tesla's VP Engineering and Aston Martin's Chief Engineer.

At the moment Apple is like a (very wealthy) wounded animal, and we all know the old adage...