Portfolio

Don't Sweat Apple's Lousy Quarter

Fear not Apple fanboys! Yes, Apple’s revenues came in at $1 billion less than expected last quarter, but it wasn’t because of a disappointing product or the absence of Steve Jobs. Devindra Hardawar, of leading tech blog Venturebeat, writes that the lackluster sales were simply caused by a public that was waiting with baited breath for the next iPhone to come out. With the booming sales of the iPhone 4S, along with a new three-carrier plan, the company will bounce back in no time. Some were upset when Apple didn’t introduce an iPhone 5, but after waiting several extra months for an upgrade, when it finally came, “they jumped on it like hungry wolves.”