Where Apple heads next after its earnings miss

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