Apple’s third-quarter results on Tuesday missed analysts’ earnings forecasts. Apple sold 26 million iPhones in the three months to 30 June. That’s an increase of 28% on the same period in 2011 but down on the 35 million sold in the second quarter. Sales of the iPad rose by 44% to 17 million units. However, at $35bn, revenues were lower than the $37.2bn forecast by Wall Street.
The company claims gossip about the new iPhone, to be released in the autumn and rumoured to be better than the iPhone 4S, is dissuading buyers from buying existing models. Meanwhile, growth in Europe was flat and sales are expected to slip to $34bn in the fourth quarter. Apple shares fell 6% to below $600.
What the commentators said
Apple has “disappointed” and blaming this on rumours of a new iPhone “seems a little lame”, said Chris Nuttall on FT.com. Of course, there were other factors – such as the strong dollar, the weak European market and the inability of China to “ride to the rescue” as the new iPad and MacBooks are not yet on sale there.
However, this “puts some pressure” on Apple to deliver next time around and to “come up with something special”. A September iPhone launch would boost the current quarter’s earnings, although it is more likely to happen in October.
“Nokia would kill for” Apple’s ‘disappointing’ numbers, said Shane Richmond on Telegraph.co.uk. The iPad was the “star performer”. However, the company has made “a rod for its own back” with annual iPhone and iPad updates that make customers wonder whether they should “buy now or wait”.