Apple CEO blames rumor-mill for underwhelming iPad sales(Read article summary)
Apple iPad sales were up in Q4 of 2012 – just not as much as many analysts had predicted.
Marcio Jose Sanchez/AP
The good news: Revenue is up 24 percent, and iPhone sales are soaring – Apple unloaded 26.9 million iPhones in Q4, a 58 percent jump from the same time last year. The not-so-good news: Apple sold 14 million iPads during the last quarter, which is obviously a pretty hefty number, and up 14 percent from Q4 of 2011, but somewhat short of the 17 percent predicted by many analysts.
Summary: Apple is selling a lot of iPads, just not as many iPads as Wall Street would have liked.
"Customers delay purchases of tablets due to new product rumors," he said. "These intensified in August and September. Some was anticipated but some we wished wouldn't occur but it did."
The "new product," in this case, of course, is the iPad Mini, which was unveiled earlier this week. Cook clearly believes that many Apple fans put off purchasing a third-generation iPad, and decided to wait for the iPad Mini instead.
Not that it's all doom and gloom.
"The investment community tends to get ‘wrapped around the axle’ on tertiary details and fails to forget the 'big picture,' " Marshall said. "Demand for Apple products is much greater than current supply."
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