Nabila Popal

Everyone was expecting Apple intelligence to drive the super cycle, but it was really something as simple as design upgrade.

Wow.

You know, make consumers fly into stores and buy this device.

So, and of course, on top of that, a very heavy installed base and refresh cycle.

In 2021, we had looked at a peak growth for Apple, a strong jump, and that's really the users, you know, at the prime five-year or four-year cycle that have been up.

No, because AI has really not been driving the uptake.

And even in the PC factor, we're working on revising those.

We're looking at almost a 9% decline in PCs from our earlier forecast because of this memory crunch.

So it's going to hit essentially the whole market, but the top players are more insulated from the impact.