HSBC note says Apple’s AI fumble may stretch iPhone upgrade cycle
In a new note to investors, HSBC says that the slow rollout of the AI features Apple introduced at WWDC 2024 has so far “failed to trigger significant improvement in user experience,” and that unless Apple gets back on track, users could end up pushing off their next iPhone upgrade. Here are the details. According to the note (via MacDailyNews), “the iPhone still represents about half of Apple’s sales,” but “initial hopes that AI would accelerate the renewal cycle have been short-lived,” as the