When Apple, the world’s most valuable company, revealed this month that it would no longer disclose how many iPhones or Macs it sells, talk of “peak iPhone” swirled around the market.
Although a seemingly minor reporting adjustment, the change reflects a broader concern that demand for smartphones is falling, sending shockwaves through the global semiconductor sector and other parts of the iPhone supply chain.
That, combined with other problems from falling cryptocurrency values to global trade wars, has prompted questions over whether the once high-flying semiconductor industry is facing a long-term, structural slump.
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