There may never be a product as profitable as the iPhone. Apple’s chief executive, Tim Cook, came close to admitting as much this month. “The smartphone market is sort of like the best market for a consumer product company in the history of the world,” he said after the group’s quarterly earnings.
Apple has ridden the iPhone’s success to record-breaking profits, and stands on the brink of becoming the first trillion-dollar company. But investors are split on whether the iPhone has enough momentum to push it over that market capitalisation, or if the device is the very thing holding it back.
The iPhone makes up more than 60 per cent of Apple’s revenues. No wonder Apple investors get jumpy about iPhone sales every three months.
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