iPhone 5 Speculation Drives Apple Earnings Down
Apple’s third quarter earnings, released this afternoon, were below analysts’ predictions.
While the quarter is usually one of the slower ones for the tech giant, Apple CEO Tim Cook and CFO Peter Oppenheimer admitted that speculation surrounding the next iPhone — what many are calling theiPhone 5 — has affected sales of current iPhones.
Apple said it sold 26 million iPhones, down from 35.1 million in the previous quarter. Presumably, people put off purchases of phones, waiting for a newer model.
“We’re reading the same speculation about a new iPhone as you are, and we think this has caused some delay in purchasing,” Oppenheimer said.
Of course he was referring to the flood of rumors about the next iPhone, including the ones that say the next version will have a larger and thinner display, a new dock connector, and a faster processor and graphics.
The topic of the rumors came up numerous times on the earnings call with analysts. But no matter how hard analysts pushed, Cook and Oppenheimer would not talk about their product plans for the remainder of the year. Read More