Apple's late iPhone launch temporarily wiped $100 billion off its stock value

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The late launch of new 5G phones caused Apple Inc's customers to put off buying new devices, leading the company on Thursday to report the steepest quarterly drop in iPhone sales in two years.

customers to put off buying new devices, leading the company on Thursday to report the steepest quarterly drop in iPhone sales in two years.

Even as booming sales of Macs and AirPods boosted overall revenue and profit above what analysts had expected, iPhone sales dropped 20.7% to $26.4 billion. But the flagship iPhone 12’s announcement was delayed until Oct. 13, several weeks later than usual, meaning no opening-weekend iPhone sales are included in the fourth-quarter results.

“What we’re seeing in the early going in the first five days gives us a lot of confidence that China will return to growth in our fiscal Q1,” Cook told Reuters.

 

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Whoopsie daisy! Life can be a bad bish eh?

Nonsense. All stocks are dropping because of the triple whammy - second covid wave, us election, hard brexit.

Can you say it is because apple did poorly in China

More to come

They will be ok.

Another shit phone with even less in the box.

'temporarily' nice plug for an independent news source ✌️

Made in......

They were “a dime wise and a dollar foolish” for not including a charger and headphones for the new iPhone. They deserve to get cut in 1/2 for that. Whoever came up with that idea probably came up with the Jelly of the month club instead of cash bonuses, haha.

That’s wat you get for omitting the ear piece and charger.

Nice boob eee

Good.

Not good

Good. What assholes give you a C-USB cable with no power brick... and still keep the phone at that value?

Makes you think that maybe the value is all made up and dumb

China & India hate Apple. $AAPL is done.

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