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Open original source ↗$AAPL investors need to start thinking about iPhone growth next year.
This fiscal year iPhone will grow around 17%.
Next year the Street is expecting 5%.
The 5% is ahead of the growth we saw in 2023-2025.
FY25 - 4%
FY24 - 0%
FY23 - down 2%.
The key question is will the real iPhone please stand up. Is it a flat business or growing mid single digits.
My take: I believe every third year it should grow around 10%, and around 5% in the other years.