One question that CEO Tim Cook did not respond to was one about the lengthening of the iPhone upgrade cycle to 3-4 years from the 1-2 years that used to be more typical. When asked about this, Apple’s CEO said, “In terms of the upgrade cycle and so forth, it’s very difficult to estimate real-time what is going on with the upgrade cycle.” Securities firm Wedbush has said that 25% of active iPhone users haven’t upgraded their iPhone in more than four years leaving a huge potential pool of pent-up demand for the 2023 models.
The pricey spatial computer is expected to be released during the first quarter of 2024.