Strong iPhone 7 Sales 'a bridge' to Apple's Next Upgrade

Apple (NASDAQ:AAPL) sales of the iPhone 7 and 7 Plus – similar in design to their predecessor – surpassed expectations to reinstate the company as the world’s biggest smartphone seller after a five-year gap. This has only built expectations, however, that the 10th-anniversary iPhone will need to offer revolutionary new features if it is to trigger a substantial uptick in sales.
As quoted in the press release:

“This is really the last (quarter) that anybody is going to care about iPhone until the launch this fall,” Cowen & Co analysts wrote in a note. “It can be said that iPhone 7/7+ ‘did its job’ as a bridge to get to the supercycle in 2017.”
Apple’s shares rose as much as 5.8 percent to $128.30 early on Wednesday, their highest in 18 months, a day after the company dethroned Samsung Electronics Co Ltd (005930.KS) as the world’s top smartphone seller based on units shipped.

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