[jti107]

its been pretty much the same iphone for last 5 years...the only new innovation have been satellite texting messages, 120 hz screens and improved camera/cpu. yet Apple has continued to do well...i think your example of S curve and market saturation is fine but Apple has an entire ecosystem and is catering to luxury and high end market so the same rules dont apply (see LVMH as an example in luxury goods). they sell phones, tablets, computers, high end audio, watches, services and all these things just work well together. no other company on the planet comes close...other than maybe google.

[enos_feedler]

While that is true in hindsight, we had different emotions when the phones 3 and 4 years ago actually came out. We were on autopilot because of all the innovation that came before it. We overshoot and then come back to reality. Also, I actually think Covid also masked a lot of deceleration due to the S curve topping out because it pulled in a lot of future demand. There are multiple reasons why the market demand is not going to line up perfectly with the actual products that launch each year.