“Apple loves it’s 99% profit
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I think that unless they do something different with their product line, their profits may well be on the wane. I have an iPhone X that’s just about a year old. Apple is pinging me all the time to “upgrade” to a “new phone. I don’t begin to use the features of the phone I have. I just imagine that this is a program to address their unsold inventory problem ( and keep us paying ad infinitum). Sorry Tim, I don’t need a new phone every 12 months.
Smart phones have reached their peak as a revenue source. The are unaffordable. Especially, at the replacement rate that Apple requires to maintain their profit levels. Expect Apple profits to wane. They need to push media - music, movies, games. Even then, revenues wont be as high.
The iPhone X is a great device, but this year’s XS is a only a marginal improvement and not worth the upgrade. So Apple’s sales numbers are naturally disappointing. I think an annual upgrade cycle is too frequent, and this release came too soon and lacked too much.