Mark Gurman’s latest Power On newsletter for Bloomberg opens with a blunt assessment: Apple’s habit of shipping familiar-looking refreshes is starting to hurt. Gurman notes that iPhone sales have now slipped below their 2023 peak and that Apple Watch revenue, by analyst estimates, dropped 14 percent last year. Those figures may still dwarf the competition, but they confirm that polish alone no longer guarantees growth.
Inside Cupertino, the slowdown is partly self-inflicted. Since the headline-grabbing iPhone X in 2017 Apple has preferred cautious iterations over eye-catching redesigns, and Vision Pro’s muted debut has only reinforced that risk-averse stance. Consumers are holding on to devices longer, and the marquee features that do arrive (on-device Apple Intelligence, bigger batteries, minor camera upgrades) tend to land late or in limited regions, robbing them of their splash.
Eddy Cue at WWDC 2016. | Image credit — Apple
Gurman argues that the external pressure is even fiercer. In China, foldables are growing almost three times faster than the broader smartphone market, giving Huawei, Xiaomi and Honor tangible talking points Apple lacks. Those companies are exporting sleek second-generation hinges and brighter inner panels to Europe and Southeast Asia, offering shoppers visible change, while the iPhone 16 looks and feels like its immediate predecessors. Add looming U.S. tariffs that could shave several points off hardware margins, and the comfort zone gets narrower still.
Artificial intelligence compounds the threat. Gurman reports that Google search queries on Apple devices fell for the first time in 22 years as users turned to chatbots like ChatGPT and Perplexity. That shift jeopardizes the roughly 20 billion-dollar search-royalty stream that props up Apple’s services narrative and underscores how quickly a new interface can upend incumbents.
Eddy Cue, Apple’s long-time services chief, captured the stakes during recent antitrust testimony when he warned, "You may not need an iPhone 10 years from now." Gurman reads the line as part courtroom strategy and part genuine anxiety.
Without a clear answer to the foldable craze, without a Siri overhaul powered by large language models, and with the first truly new category devices (such as smart glasses, household robots) still two to three years away, Apple risks losing the upgrade momentum that has defined the brand since 2007. Gurman’s takeaway is stark: unless the innovation engine shifts out of idle soon, the company could watch faster-moving rivals seize the next wave of hardware excitement. This is a take I happen to agree 100% on, and I'm sure many consumers of the Apple brand would as well.
Johanna 'Jojo the Techie' is a skilled mobile technology expert with over 15 years of hands-on experience, specializing in the Google ecosystem and Pixel devices. Known for her user-friendly approach, she leverages her vast tech support background to provide accessible and insightful coverage on latest technology trends. As a recognized thought leader and former member of #TeamPixel, Johanna ensures she stays at the forefront of Google services and products, making her a reliable source for all things Pixel and ChromeOS.
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