Quote of the Day: Nine Months Is an Eternity in Apple-Land

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


From Piper Jaffray analyst Gene Munster, commenting on sales of the iPhone 5:

This is a tired product, it’s been out three quarters.

He’s not wrong, but it’s still a pretty astonishing statement, isn’t it? In any case, Munster was actually using this as a defense of Apple’s second straight quarter of mediocre results. iPad sales were down 14 percent and Mac sales were down 7 percent, but iPhone sales were up 20 percent. That’s nothing to write home about, but it’s better than last quarter. And while the softness of iPad sales isn’t too surprising considering the huge channel inventory glut at the end of last quarter, it’s still bad news.

Overall, revenue was flat and earnings were down 22 percent from last year. Despite all this, Apple beat expectations, which just goes to show that expectations aren’t what they used to be. I’m certainly not writing off Apple or anything, but at the moment it sure looks like it’s not just the iPhone 5 that’s tired. I think Apple looks tired. Perhaps they’ve succumbed to the imperial headquarters disease.

DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate