Can't wait to see the second quarter results. I think people will hold their devices for a longer period of time and at some point this milking process will slow down. It's just a matter of time, just like the financial crisis that began in 2008, the bubble will burst open.
I agree consumers will retain their devices much longer because of the rising costs of smartphones and there usually are not major changes year to year with smart phones. But I don’t see this as a transition that will negatively affect Apple, mainy being they have an expansive iPhone line and a price point for everyone from the SE all the way to the iPhone X.