Apple’s partners went to extremes to keep news of Cupertino’s mobile payments entry quiet.
Apple goes to some pretty crazy lengths to ensure secrecy for its various projects, and it expects a similar commitment from its partners.
According to a New York Times article, prior to releasing Apple Pay, the key players (which included Apple and banks such as JP Morgan Chase) referred to each other by code-names after rumors of Apple’s interest in mobile payments surfaced in early 2013.
Apple stock took a battering this week when it was reported that the iPhone 5 wasn’t selling as well as the Cupertino company had expected it to, and it appears analysts aren’t going to let it recover just yet. JP Morgan analyst Mark Moskowitz is now reporting that iPad sales won’t meet expectations due to supply constraints during the fourth quarter of 2012.
As is often the case with Apple products, feelings towards the new iPad mini were mixed following the Cupertino company’s special event in San Jose on Tuesday. Many were wowed by its good looks and tiny form factor, which still manages to run regular iPad apps just fine. While others were confused over its $329 price tag.
We had expected Apple to price the iPad mini along the same lines as cheap Android tablets, such as the Google Nexus 7 and the Amazon Kindle Fire, which sell for $200. We didn’t quite expect Apple to go quite that low, but we felt around $250 would be just about right.
Instead, Apple chose to ignore what its competitors were doing. You might say that this is a big mistake, and that the iPad mini doesn’t stand a chance against its 7-inch rivals. But many analysts feel the iPad mini will do just fine at $329.
It’s pretty clear that the iPhone is going to boost Apple’s bottom line this coming Wednesday, September 12, when it’s expected to release along with an invite-only event at the Yerba Buena Center in San Francisco. Michael Feroli, chief economist for investment firm, J.P. Morgan, thinks it might actually raise the overall U.S. economy.
Customers line up for the new iPad outside of Apple's Fifth Avenue store.
Analysts predict that Apple’s new iPad, which has already sold over 3 million units, is shaping up to boost sales of the device by a whopping 156% year-over-year. The tablet is expected to become “measurably larger” that the entire PC market.
Although AT&T provided few details on how many iPhones the carrier sold this quarter, several analysts are upping their estimates based on consensus that Apple will report record-breaking sales. The Apple smartphone has “general strength across the board” with sales hovering around 30 million units for the three-month period.
Netbooks were the dodo birds of technology: ill-equipped to compete and eventually done in by a consumer form of natural selection — the iPad. After just about a week on the shelf, the Kindle Fire is being labeled the “netbook of the tablet market.” Analysts looking beyond the $199 price believe the Amazon tablet just can’t compete with the market-leading Apple device. Are Kindle Fire purchasers headed for a serious case of buyers remorse?