Apple Downgraded to Hold at HSBC on Slowing iPhone Growth

The transcript discusses Apple's current market position, highlighting a deceleration in growth and challenges in emerging markets. It emphasizes the potential shift from hardware to services as a future growth driver, noting that services are more profitable. The discussion also covers Apple's strong position in the US market, driven by consumer confidence, but highlights challenges in emerging markets like China and India due to competition from local brands. The transcript concludes with a note on market saturation and the shift from recruitment to replacement cycles in developed markets.

In what ways is Apple performing well in the US market?

What evidence suggests a saturation in certain markets for Apple products?