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From the Mac to the iPhone, Apple’s (AAPL) empire thrives on innovation, now fusing artificial intelligence (AI) into every touch, swipe, and voice command, redefining how the world connects. But recently, Apple has struggled to keep the spark of innovation alive. iPhone owners are holding onto their devices longer, and Wall Street is questioning whether Apple still has the magic needed to catalyze another device upgrade boom.
UBS analyst David Vogt doesn’t think so - at least not anytime soon. He says Apple Intelligence, the company’s highly anticipated AI upgrade, won’t arrive in 2025 as expected. That means no game-changing Siri overhaul or killer AI feature to drive demand for the next iPhone. With the average iPhone now over three years old, a major upgrade cycle should be around the corner. But without AI to fuel it, UBS sees no rush for consumers to trade up.
