Let $A$ be a square matrix that is diagonalizable. This means that it can be like this: $A = SDS^{-1}$, where $D$ is a diagonal matrix containing the eigenvalues of $A$. It follows $S$ contains the eigenvectors of $A$.
We also know the matrix powers $A^k = SD^kS^{-1}$.
Now, if we want to make $k \to \infty$, then the only way that the matrix will approach a 'stable' value is when $|\lambda|<1$. (And this is how most textbooks put it.)
My question is: Is there an additional condition imposed that $\lambda$ should be real only? Is it possible that when $\lambda$ is complex, then $A^k$ , as $k \to \infty$ still exists?
Your insights will be helpful.
No, if the eigenvalue is real and between 0 and 1 then the value of a $A^kv$, where v is the eigenvector, will exponentially decay to 0. If $\lambda$ is between -1 and 0 then the value will oscilate and decay to 0. If its complex and has an absolute value, or radius in the complex plane, between 0 and 1 then it will spiral, from the eigenvector, towards 0 either clockwise or anti-clockwise.