Wall Street thought AI would spark a massive iPhone upgrade cycle. Turns out, fear of Trump's tariffs did the trick

businessinsider.com/apple-iphone-upgrade-cycle-tariffs-not-ai-why-2025-5

A woman points her iPhone toward Donald Trump at a campaign rally in California. Trump's tariffs pushed people to upgrade their iPhones, it appears.
REUTERS/Lucy Nicholson
Tariff fears spurred a surge in iPhone purchases in early 2025.
Long-term iPhone users upgraded due to potential…

This story appeared on businessinsider.com, 2025-05-08 12:21:39.
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