Appleinsider:

“We believe Apple lacks the courage to lead the next generation of innovation (AI, cloud-based services, messaging); instead will become more reliant than ever on the iPhone,” senior analyst Andrew Uerkwitz wrote in the memo, seen by Business Insider. “We believe Apple is about to embark on a decade-long malaise. The risks to the company have never been greater.”

I would strongly disagree with the characterization but time will tell.