At its Worldwide Developers Conference (WWDC) earlier this year, Apple showcased its foray into GenAI, creating a positive initial excitement. As the dust from the event has settled now, the key question arising is how will the launch of Apple Intelligence impact the iPhone upgrade cycle. The question becomes particularly critical against the backdrop of lengthening iPhone holding periods. This is due to multiple reasons, including improvements in device durability, extended periods of software support, and innovations becoming incremental. As a result, upgrade rates in some of Apple’s key markets like the US and Japan remain historically low.
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