Don’t underestimate the effect of the COVID stimulus. A lot of folks with spare cash spend it on shiny new phones, and this holiday season was likely reflective of the sloppy loose cash on the street. Even I traded in two iPhone 7+ for new iPhone 13s.
I have a big stake in AAPL, but I’ll probably put some hedges on it before next earnings. With the company approach $3 trillion, it’s pretty crazy to keep that machine churning out growth at that pace.