Apple’s flagship iPhones remained the driving force behind its performance, with global sales jumping 13.4% YoY in the third quarter to $44.6 billion—the highest growth in 15 quarters.

Apple is doubling down on India. After a record-breaking quarter, CEO Tim Cook confirmed that Apple will open new retail stores across India later this year, aiming to deepen its presence in one of the company’s fastest-growing markets.

Most US iPhones are now made in India rather than China, as Apple rejigs its supply chain to avoid tariffs on products imported into America from China. The strategy will certainly be of significant help to Apple at present, but there are two reasons why this could prove to be only a temporary solution …