Apple realizes smartphone development has stagnated industry-wide. Rumors are that they have gone from a 2 year iPhone refresh to 3. I think it's obvious Apple has failed to innovate on 6s and 7 iPhones. This could be a downturn for the company, with a lack of product leadership. The only way this innovation gap could bounce back to growth is if product leadership has refocused to unannounced future products. Self driving cars and wearable technologies would be candidates for markets that could make meaningful impact on Apple's bottom line.
Phone is mature now, no one can think of any huge advances to be made without any unforeseen disruption. New product categories represent the way forward, but Apple still has to keep milking the iPhone cash cow.
