Apple Hints New Products Near With Bigger IPhones Looming
Apple Inc. signaled that the long wait for new products is nearing an end.
With bigger-screen handsets in development, Apple said yesterday that shoppers are delaying buying new iPhones, which will weigh on sales in the current quarter ending in September. Yet rather than dissuade buyers from procrastinating, Apple stoked anticipation for new devices on a conference call, with Chief Executive Officer Tim Cook talking about an “incredible pipeline” that “we can’t wait to show you,” and finance chief Luca Maestri declaring it would be a “very busy fall.”
Looking ahead to new gadgets is the main reason investors barely reacted to Apple’s fiscal third-quarter results yesterday. The world’s most valuable company posted a 12 percent rise in net income to $7.75 billion and a 6 percent revenue increase to $37.4 billion, with strong iPhone and Mac sales making up for a drop in iPad demand.
Apple shares fell 0.4 percent to $94.36 at 7:15 a.m. in early trading in New York. The stock has added 18 percent this year.