Batton change: What comes after exceptional

Over the past two decades, we watched Steve Jobs introduce the iPhone and Apple go on to sell more than three billion of them. A small rectangle of glass did more than revolutionise communication; it quietly reorganised daily life. Laid end to end, those phones would circle the Earth more than eleven times. Yes, eleven. Apple's dominance has been extraordinary. It is a near-perfect case study in American ingenuity, though it is far from a one-off. Plenty of other corporate success stories follow a similar script, helping to explain why the S&P 500 has been the world's standout equity mar...