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Core News Facts
As of now, nearly one-third of the iPhones in use are iPhone 13 models or older, equating to over 400 million users. This significant portion of older devices, which are nearing the end of their useful lifespans, could drive high demand for the newly released iPhone 17 series.
Apple’s recent product rollout faced market disappointment, leading to a more than 5% drop in share price from pre-rollout highs. Analysts noted a lack of innovation in Apple’s latest offerings, contributing to a year-to-date decline of over 6% in the stock’s value.
Despite these challenges, Apple maintains a high customer retention rate of 89%, indicating strong brand loyalty. The company reported double-digit iPhone revenue growth in its last quarter, suggesting ongoing potential for market sales despite recent criticisms.
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