“Apple sank 2.4% today, bringing its losses past 6% in the past two days,” Eric Bleeker writes for The Motley Fool. “Stretch your timeline back a bit further to the day the iPhone 5 was released and losses now stand at 23% in less than two months.”
“Yet, for all the negativity, there were some positives coming out of the smartphone space that could reflect on the strength of Apple heading into the holiday season,” Bleeker writes. “The iPhone 5 underperformed versus expectations in its opening weekend, but that was largely due to supply constraints. Its shipping times have stubbornly stayed at three to four weeks even as the phone has been on the market for months.”
Bleeker writes, “Apple’s earnings were a slight disappointment, but they came in a quarter where the iPhone had limited availability. The real test will come next quarter when a full quarter of iPhone sales are recorded.Then we have the Mini, which despite some quibbles with its screen, has largely garnered overwhelmingly positive reviews and whose opening weekend sales surpassed estimates in spite of once again being supply constrained. Finally, while Forstall created iOS, most reports from inside the company indicated he’d become a divisive figure. Not only that, but many of his recent initiatives (Maps, Siri) were underwhelming.”
Bleeker writes, “The most positive news today surrounding Apple was earnings from Qualcomm… Qualcomm’s central licensing position allows the company to have great visibility into the smartphone industry. So, the company projecting revenue next year ranging from $23 billion to $24 billion speaks well to the continuing growth of smartphones.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]