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iPhone 5 Hinders Apple’s 3Q Sales

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  • Description

    FBN's Shibani Joshi on Apple's sales miss.

  • Duration 1:57
  • Date

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Well apple as you probably all know by now boy that was quite a report last night a rare double miss falling short on -- third quarter iPhone sales -- Man is this something that's -- one of the hot tea or is it something more lasting again talk about same song I think it's a slip it says that quite slip right now I -- -- -- what people are talking about thirty billion dollar is in terms of market cap wiped away overnight.

Shares of apple are reversing course right now as they've been doing basically cents after the -- -- after our numbers are rare double -- as you mentioned.

On the back of poor -- in sales they came in three million units short at 26 million vs 29 million.

Which is what the street was looking for the reason -- consumers.

Deciding to hold back waiting now for the iPhone 5 saying that no we don't want the iPhone four at -- breaking views -- the challenge at apple faces I think quite clearly seeing quotes.

Apple's success has become a kind of burden with most fresh products.

And hit today next and you I found it's even harder to get customers to buy current devices as launches.

Our approach but -- a lot of analysts today are shrugging -- the -- calling this a buying opportunity Piper Jaffray writing in a research report this morning that I receive.

He must be -- bottom line it's not as bad as it looks and we believe the primary reason for the -- I -- -- number is anticipation of that iPhone 5 -- take.

Is that shares will move higher over the next couple quarters in anticipation of an October release of the new phone smaller iPad.

And the holiday quarter is a lot of positive catalysts looks forward to a new song possibly.

A smaller iPad of course a holiday buying season are right now -- is not really sensing that.

But people talking about this being a good buying opportunity shares under 600 -- -- you got you know 570.

Whatever but -- right around.

And -- -- yeah that's well they've done pretty well for the arts -- Bonnie thanks thing.

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