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Apple Blames Earnings Miss On iPhone 5 Anticipation 242

Hugh Pickens writes "Reuters reports that Apple shed more than five percent of its stock price value in after-hours trading after the company reported its second quarterly miss on results in less than a year, highlighting how the Apple brand is becoming less resistant to the economic and product cycles that have plagued rivals. 'Clearly it was a disappointment,' says Channing Smith, Co-Manager of Capital Advisors Growth Fund. 'We expected a lot of consumers will probably delay their upgrade and their purchases until the iPhone 5 comes out. We saw a similar trend occur last year with the iPhone 4S.' Executives acknowledged buyers were refraining from purchases because of 'rumors and speculation' around the iPhone 5, which sources have said will ship in September with a thinner and larger screen. 'The iPhone 5 is already the most hyped device and for it to exceed expectations is going to be really hard,' says BGC Partners analyst Colin Gillis. This is one of many reasons Apple is so notoriously secretive. With the levels of hype that Apple product launches garner, it would undoubtedly crush its own sales if it announced products even months in advance. Instead, Apple slowly and silently draws down inventory in distribution channels, and then the upgraded product is available immediately (or nearly immediately) after it's announced. According to Apple CEO Tim Cook, 'there is an incredible anticipation out there or for future products and as you would expect given what we've been able to deliver in the past.'"

Reports Say Apple Is Shrinking Its Docking Connector With iPhone 5 427

jones_supa writes "Two sources have told Reuters that Apple's new iPhone will drop the classic wide dock connector used in the company's gadgets for the best part of a decade in favor of a smaller one. The refresh will be a 19-pin connector port at the bottom instead of the previous 30-pin port 'to make room for the earphone moving to the bottom.' That would mean the new phone would not connect with the myriad of accessories playing a part in the current ecosystem of iPods, iPads and iPhones, at least without an adapter. On the upside, a smaller connector will allow for more compact product designs. Some enterprising vendors in China have already begun offering cases for the new phone, complete with earphone socket on the bottom and a 'guarantee' that the dimensions are correct." Gizmodo writer Adrian Covert says it's for your own good.

Some people have a great ambition: to build something that will last, at least until they've finished building it.