Summary: In this post-Apple earnings episode, we discuss what happened to the iPhone business at the end of 2015. Taking a closer look at Apple management's comments on the conference call and analyzing a few new iPhone platform data points, we arrive at the most likely cause for the latest amount of iPhone turbulence. We then look ahead at the near-term strategy Apple is most likely to use for navigating the iPhone business through this turbulence. Finally, we mark the 50th episode of the Above Avalon podcast by discussing the most pleasantly surprising Apple product to have come out since the start of the podcast in 2014. More information on Above Avalon memberships can be found at AboveAvalon.com.
