Rumor has it that Apple (APPL) AAPL -3% will release its cheapest ever top-tier phone this fall. Influential tech magazine Tom’s Guide recently posted a leak claiming iPhone 12 will retail starting at $549. That’s almost half of what Apple charged for iPhone X a few years ago. This raises the question: Why is the most premium tech product maker all of a sudden selling itself short? I’ll show in a moment, Apple’s business is entering a new era where iPhone profits won’t matter anymore. Low price tags might seem like a desperate move to fend off competition. But like...