I don't think China's economy is the problem as some say. LVMH has seen a drop but not as big, in fact they talked about a rebound in the first half of 2023. I

I don't think China's economy is the problem as some say. LVMH has seen a drop but not as big, in fact they talked about a rebound in the first half of 2023. I believe it's the luxury strategy chosen by TC that is going to hurt them in the long run. Recent iPhones on top of being extremely expensive have high long term running cost, high repair price and not even that good resale value now that the market is saturated. Competitors have catched up for the most part and considering all the tradeoffs it has become difficult to justify the price since the 11-12th generation. I believe most people who bought one of those either is waiting MUCH longer or thinking about getting newer tech for much cheaper elsewhere. To make matters worse, Apple sell iPhone at luxury pricing premium but yet offer an experience that feels like getting milked at an arab bazar. They have made very unreasonable choice when it come to some specifications/limitations built-in their expensive models ; for example the CPU is still the fastest around but RAM limitation makes day-to-day use way more painful than a slower processor would be. And when you buy a 1K+ phone at Apple you just get the right to buy overpriced Airpods ; meanwhile Google offer free wireless earbuds with phones costing up to 400 less. That is just an example, but in the end peoples see that and end up realizing they are taken for a ride, then Apple sell less... It is only the start I believe. Next 3 years are going to be fast downhill if commercial strategy doesn't change at Apple...