Clearly that is not "only" what it says. It jumps directly from "stick with their phone a bit longer... reducing iPhone sales" to "Apple misses their earnings target, likely costing them more in value than it would have cost them to address the root issue." That is very clearly drawing a casual relationship between the two things, and underscores it by stating it "should be a lesson for more companies" on how to avoid such outcomes.

The last line is a dodge because, obviously, China's economy is actually the main culprit stated in the report. But I guess some people are going to hear what they want to hear.