AT&T has released their third quarter 2012 results, and out of 6.1 million smartphones sold, 4.7 million of those were iPhones, and 18% of those were for customers new to the network. That's especially interesting given that the iPhone 5 only launched at the tail end of the quarter.
Verizon has reported that Q3 2012 results, including over 3.1 million iPhones sold, over a fifth of which were Apple's latest generation iPhone 5. That compares to 3.4 million Android phones. That's an interesting mix given the iPhone 5 launched less than a month ago, and iPhone sales in general were greatly reduced prior to that.
Last night Apple reported Q3 fiscal 2012 earnings. If you look at some of the headlines floating around, you’d think Apple was in some kind of trouble. Phrases like “iPhone slump” and “big earnings miss” are being tossed around as if the sky is falling on Cupertino.
What a joke. I think this just proves how short term Wall Street’s memory can be. And I’ll get to that in a bit. For now, let’s go through the basic numbers to understand what all the fuss is about.
During the Q&A following Apple's Q3 2012 conference call, CEO Tim Cook was asked about the competition the iPad faced from smaller, lower priced tablets like the new Google Nexus 7. Cook's answer, paraphrased, was that there remains no competition to the iPad.