Our reasons included concerns about the ultimate market cap the market would allow the company to achieve, rising competition from Android devices, the release of the iPhone 5 with a sub-par mapping application and concerns about the ability of the company to hold together its management team in the post-Steve Jobs era (a concern that was validated when the company announced management changes).

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The council has to meet within the next 10 days to consider the application, but it is expected to endorse the sub-committee's recommendation.

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