by Michael Tarasla
There’s no hiding it: Apple’s earnings and guidance were a big disappointment.
The facts:
- The company’s 23% revenue growth was its slowest since 12% growth in June 2009.
- iPhone shipments were 26 million, short of an expected 28.4 million
- Piper Jaffray expects iPhone shipments of just 22 million units in the September quarter.
Could Apple miss again?
- Apple has posted only its second earnings miss since 2003.
- Apple had beaten expectations by 17% on average, in its eight previous quarters.
- That said, it’s a matter of timing for the iPhone 5 release and if Apple has set the bar low enough.
What about the iPhone5 and perhaps other new products?
- One analyst says Apple could sell as many as 50 million iPhones in the December quarter
- A new iPad Mini could also debut in the second half to better compete with Google, Amazon and Microsoft.
- New notebook computers may also come in time for the holidays.
Some of the best links for more Apple background:
- The quarter in charts – Dan Frommer:
- Sales are not impaired, just delayed, – TechCrunch
- What the analysts are saying – CNNMoney
- The company’s strongest-ever product cycle may be just ahead — Benzinga
