“Apple has never purchased so many iPhone components,” Philip Elmer-DeWitt writes for Apple 3.0. “And other juicy tidbits from Apple’s 10-K.”

P.E.D. writes, “From a note to clients by RBC’s Amit Daryanani that landed in my inbox Tuesday: Our analysis of AAPL’s 10-K resulted in the following key highlights: 1) Off balance sheet manufacturing and purchase commitments were up sharply at an all-time high of $37.6B, +31.3% Y/Y and 60.5% q/q (iPhone 6 cycle, it was up 31.7% y/y), potentially indicating strong ramp for iPhone X.”

P.E.D. writes, “[Daryanani wrote], ‘We maintain our positive stance on AAPL as we see multiple tailwinds that should enable double-digit EPS growth not just in FY18 but also in FY19 as AAPL benefits from 1) ASP tailwinds from iPhone X and higher memory; 2) GMs benefit from services and better mix; and 3) potential tax reform.'”

Read more, and see the chart, in the full article here.

MacDailyNews Take: Need it be said?

Supercycle

Supercycle!

[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]