Every time a new Apple (NASDAQ: AAPL) iPhone gets released, it seems like everyone who has chosen iOS over Alphabet‘s (NASDAQ: GOOG) (NASDAQ: GOOGL) Android immediately orders one.
In reality, however, not every consumer trades in his or her phone just because a new model comes out. They may want to, but leasing cycles, payment plans, and other factors influence whether people swap out their iPhone or Android phone after a new model is released.