For many months now, we’ve seen various financial analysts, industry pundits and even Apple officials prognosticating a fairly dreary first calendar quarter of 2016 for the world’s biggest cash cow. Dreary by Cupertino standards, that is, with between 48 and 55 million iPhones still sold in the 90-day window, and company revenue circling “just” $50 billion.

Finally, iHaters and hardcore Android enthusiasts rejoiced, the market’s recent stagnation would catch up with the manufacturers of yet another eerily familiar iPhone duo. Only by the looks of things now, the tech giant’s legal troubles and ongoing FBI clash on encryption may have had a boomerang effect on iPhone demand.

As such, Morgan Stanley analyst Katy Huberty is ready to revise her quarter forecast, upping unit sales predictions to 56.5 million and total earnings to around $55 billion. Both numbers would still be significantly down from the 74.8 million iPhone copies and $75.9 billion in revenue reported during the closing three months of 2015, but not by as much as previously estimated.

Similarly, Apple is faced with its first year-on-year iPhone shipment decline, from 61 million between January and March 2015, though the slump might not be as serious as once projected. Then, in the April – June timeframe, the SE will enter the equation, and based on intel painting the 4-incher as an evolved 5s, Cupertino probably doesn’t need to fear further drops. And so, the “crisis” ends before it could even begin.

Sources: StreetInsider, Seeking Alpha

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