Misek trims his March quarter iPhone estimate to 48 million units from 52 million, reducing his gross margin forecast to 40%, from 42%, due to a mix shift and continued assembly execution issues.
It is not a word for a dramatic shift from an absolute (though relatively gentle) monarchy with a weak consultative assembly to a constitutionally limited monarchy with a strong, sovereign parliament and an elected president who can remove executive branch officials without entreating the king.