Making a Bearish Case for Apple and the iPhone

The transcript discusses market concerns about a company's growth, focusing on the iPhone's role in driving revenue. It highlights recent investments in China and the potential for new products. The discussion covers industry competition, stock performance, and management strategies, emphasizing the importance of the iPhone and the need for innovation to sustain growth.

What role does the iPhone play in the company's revenue growth according to the text?

What are the implications of the smartphone market's evolution from hyper growth to long-term growth?

How has the company's spending on share repurchase and acquisitions changed over the past year?