- Top Apple (NASDAQ:AAPL) watcher Gene Munster of Loup Ventures predicts “a 7 or 8 percent drop” in share prices after tomorrow’s launch event, according to CNBC.
- Shares are currently up % due to investor launch excitement. Munster says that excitement will give way to concerns about the company’s performance in upcoming quarters.
- Fast forward to a few weeks from now — there's going to be some wringing of hands as people start to think about what the March and June quarters of next year look like,” says Munster.
- In another slice of Apple, CEO Tim Cook has an interview with Fortune where he refutes claims that the company only creates products for the rich.
- Cook: “But if you look across our product lines, you can buy an iPad today for under $300. You can buy an iPhone, depending upon which one you select, for in that same kind of ballpark. And so these are not for the rich. We obviously wouldn’t have over a billion products that are in our active installed base if we were making them for the rich because that’s a sizable number no matter who’s looking at the numbers.”
- Previously: KGI Securities expects iPhone X to launch in "severe short supply" (Sept. 11)
- Now read: Apple: Bundle It All And Win
Original article