Apple's reliance on the iPhone is well documented, but that didn't stop analysts at Oppenheimer from issuing an unusually scathing investor memo describing “strategic issues” at the Cupertino firm.
In the note, a copy of which was obtained by Business Insider, analyst Andrew Uerkwitz and his team charge Apple for being too reliant on the iPhone and headed in the wrong direction, saying the company “lacks the courage to lead the next generation of innovation”.