Analyst: Apple iPhone not immune to the laws of economics

Needham analyst Charlie Wolf has noticed how Apple's Mac continues to sell in the face of a recession and a PC market that has taken the brunt of an assault by the expanding demand for tablets. But Wolf sees no such immunity for the Apple iPhone. The analyst told clients in a note issued on Tuesday that while the Mac "seems to defy the laws of economics," the Apple iPhone "is not so fortunate."



Whereas the Mac continues to grow its share of the PC market, the Apple iPhone's share of the smartphone market peaked in the fourth quarter of 2011 at 23.8%, according to Gartner. A year later, the ...