The delay can be partially attributed to the lack of a smartphone processing chip that works with 5G, Mr. Arcuri said. He said he expects Apple to focus on a 2021 release date for 5G iPhones, and any financial strains the delay may cause should be made up for with customers needing to replace their old iPhones.
“Though lack of 5G phone next year would be a near-term headwind, our install base and replacement analysis suggests iPhone can ultimately grow over the longer term,” Mr. Arcuri said.
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