And why not? iOS 12 made older iPhones run much better than they did on iOS 11, to the point where the use of a three-year-old iPhone 6S became completely viable, especially with a new, new battery. And keeping an older phone is even more attractive to customers who no longer make monthly payments for the device through the now regular installment plan. When you face either buying a new iPhone ̵
It does matter where future growth comes from, but Apple is still years away from having to figure it out. (It also raises the question of whether it is even reasonable to expect a successful company that has been around for 40 years to grow year after year, but it is apparently how Wall Street believes.) Meanwhile, investors just have to wait for a world where the iPhone – Buyers upgrade after two or three years instead of every fall.