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MarketWatch First Take: Apple earnings show iPhone ‘supercycle’ isn’t happening, and that’s OK

For the past year, analysts have been screaming that Apple Inc. was entering a “supercycle” with the iPhone X that would return iPhone sales to the halcyon days of the iPhone 6 and even beyond.

Apple’s earnings report Thursday showed that is not the case, but it also showed that Apple will be just fine anyway.

Apple sold 77.3 million iPhones in the holiday quarter, falling well short of analysts’ average expectations of 80 million and failing to reach last year’s quarterly total of 78.3 million, though executives were quick to point out that the holiday quarter had one fewer week this year.

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