Apple warns of holiday earnings drop
On top of the holiday-quarter warning, the company reported earnings for its just-ended quarter that missed Wall Street's expectations for the second quarter in a row – something that hasn't happened in more than a decade.
In part, the issues facing Apple are a normal consequence of having so many new products, said Chief Financial Officer Peter Oppenheimer. When a production line is new, it costs more to run and the components are more expensive.
“The difference this time is the sheer number of products we're introducing at a short time,'' Oppenheimer told analysts on a call Thursday.
But Oppenheimer also singled out the iPad Mini, the new, smaller version of the iPad the company unveiled Tuesday. It starts at $329, well above the $199 competitors charge for similar products. Apple's price is ``aggressive,'' with a margin well below its other products, Oppenheimer said.
``When we set out to build the iPad Mini, we didn't set out to build a small, cheap tablet, we set out to build a smaller iPad that offered the full
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