High Anxiety
Apple Does Have a Cycle, But It’s Far Less Than Super
Optimism for iPhone sales has been replaced by angst about growth.
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There has been a predictable pattern of angst about Apple Inc.'s iPhone sales, and this week is hewing to recent history. The stress is most likely overdone, but it's a sign of the new, more-anxious normal for Apple and its investors.
Last October, just after Apple started selling the first of two new iPhone models, there was an initial wave of fear that the iPhone 8 wasn't flying off store shelves. Apple's stock price wobbled. By late in the month, Apple watchers moved on to enthusiasm about the other new model, the iPhone X, and they got over their initial panic.