Apple Can See Incremental Leverage From iPhone Upgrades, Says Piecyk

The transcript discusses the company's growth strategy, focusing on maintaining sales through increased average selling prices (ASP) despite declining upgrade rates and market saturation. It highlights the potential for future growth if upgrade rates stabilize and the role of services and R&D in sustaining revenue. The discussion also touches on the importance of the product in consumers' lives and the company's strategic position for investors.

What factors contributed to the increase in average selling price (ASP) of iPhones?

How did the company manage to maintain or grow the number of phones sold despite low upgrade rates?

What are the challenges mentioned regarding the competitive market for phones?

Discuss the potential impact of the services business on the company's overall revenue.

What implications could arise if upgrade rates stop declining?