Apple’s iPhone sales peaked years ago, but the pieces are in place for a new ‘super cycle’

Apple’s iPhone sales peaked years ago, but the pieces are in place for a new ‘super cycle’

The Apple iPhone 12 Pro Max is unveiled during a virtual product launch.Daniel Acker | Bloomberg | Getty ImagesThe iPhone hit its peak three years ago.That's when Apple reported its last blowout holiday quarter for the iPhone, selling more than 77 million devices that generated $61.1 billion in revenue. It's been downhill for Apple's iPhone sales ever since.But the most bullish Apple analysts were nonetheless predicting a new "super cycle" for the iPhone ahead of the iPhone 12 announcement on Tuesday.Apple's last super cycle was in the fourth quarter of 2014, when it reinvigorated the iPhone lineup by introducing larger screens that matched rival devices from companies like Samsung. That quarter, Apple sold 74.47 million iPhones (up 46% from the previous year), generating $51.18 billion in revenue (up 57% from