Softer Sales of iPhones Hurt Apple

It looks as if many people are so sure the next iPhone is going to be good that they are not buying the ones Apple is selling now.

A lot of companies would love to have that problem — if it can be called a problem, given that Apple still managed to sell 28 percent more iPhones last quarter than it did a year earlier.

Yet in the world of outsize expectations that envelops Apple, it still contributed to a rare earnings disappointment from the company.

In response to the earnings report on Tuesday, Apple investors registered their unhappiness with the results by sending its shares down more than 5 percent in after-hours trading. In the regular session, the stock fell 2.9 percent, to $600.92.

Read Full Article from New York Times

- Posted: 2012-07-24 23:05:55

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