$Apple(AAPL.US) 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.Source: Gene Munster
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