Yesterday, Apple hit a major valuation milestone becoming the first $1 trillion public company. Many Wall Street analysts and market pundits are calling it an important milestone. Well, apparently Tim Cook doesn’t think so. But it is a time to reflect on how the investor community and Wall Street have gotten Apple wrong consistently for quite some time. And they continue to get Apple wrong as they continue to characterize Apple as an iPhone company or a consumer product company, or a hardware company.