Apple still needs to convince consumers of Apple Intelligence's power.Justin Sullivan/Getty ImagesApple has yet to capitalize on the initial hype of Apple Intelligence.Analysts have adjusted their expectations of a "super cycle upgrade " for iPhones.This month, Apple will report its first earnings since launching Apple Intelligence.Apple bet big on Apple Intelligence, but the iPhone upgrade cycle that some analysts predicted it would spark doesn't look like it's happened yet.Apple introduced its AI venture in June last year during its Worldwide Developers Conference, and Apple Intelligence launched to eligible iPhones in October.