On the earnings call, Tim’s answer to a question noted that the iPhone active install base is over 1 billion (of the over 2 billion total active devices). At a

On the earnings call, Tim’s answer to a question noted that the iPhone active install base is over 1 billion (of the over 2 billion total active devices). At a replacement rate of 200 million per year, that’s 5 years to turn over the iPhone active install base. Replacing a 5 year old phone sounds pretty reasonable. Earnings call transcript: https://sixcolors.com/post/2023/05/this-is-tim-apples-q2-2023-analyst-call-transcribed/ https://sixcolors.com/post/2023/05/this-is-tim-apples-q2-202... “The iPhone base is well over a billion active devices.”