No New Apple Products before Autumn
Tim Cook, Apple’s CEO, suggested that the company will not be releasing any new products before the coming autumn.
In the March quarter earnings call he said “Our teams are hard at work on some amazing new hardware, software and services we can’t wait to introduce this fall and throughout 2014.”
Cook was asked to clarify if no new products would be released this summer but he said that he didn’t “want to be more specific.”
Recent months have seen rumours that Apple may release the next iPhone this summer as well as its own streaming radio service, however, Cook’s statements would seem to contradict these rumours.
Not only will this be disappointing for customers, but also for investors. It has been over six months since the last Apple launch event and with no new products coming up, investors and analysts have begun speculating about the company’s decline.
Apple’s stock has dropped from over $600 when the iPad Mini was announced to under $400 earlier this month.
However, Apple did beat Wall Street’s estimates for revenue for the quarter and is planning to give back $100 billion to shareholders by the end of 2015.