Apple shares were down Friday on news that iPhone sales missed Wall Street estimates for the first time ever. But long-time analyst Gene Munster, now Managing Partner at Loup Ventures, says investors may soon forget about this when the company releases its next product.
“There is talk out of Asia about a screen that's probably about 25 percent bigger than the current iPhone X," Munster told Cheddar.
Munster says a new phone, particularly one with a bigger screen, could create even more revenue for the tech giant.
Despite lower-than-expected smartphone sales, Apple still reported record growth in revenue and earnings in its latest quarterly report. The company brought in $88.3 billion in revenue, up 13 percent from last year, thanks in large part to the hefty price tag for the iPhone X.
But Munster believes investors are starting to pay attention to more than just device sales.
"I think that there is a shift in terms of how investors are thinking about the story, more towards the platform. But there’s always this chatter about what’s the next product coming from Apple,” Munster says.
Apple CEO Tim Cook said the company now has 1.3 billion active device users, which Munster notes is comparable to Facebook’s monthly usership.
For full interview, [click here](https://cheddar.com/videos/the-triple-a-of-earnings-apple-amazon-and-alphabet-release-reports).
Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
Mortgage rates have dropped below 7% for the first time since the middle of August.
Taylor Swift grossed nearly $2 billion this year, according to Billboard.
A study from US News and World Report has found the most affordable place to retire is in Ohio.
Millions of households could see higher internet costs next year as the affordable connectivity program could end.
Viveca Chow, NYC lifestyle expert, spoke with Cheddar News to provide tips on how to have some festive fun in the city on a budget.
Apple announced that it's releasing an iPhone security update to prevent attackers from acquiring users' private passcodes.
As the new year approaches, many people are looking to find a job with a higher salary or are planning to ask their current boss for a raise. Taliya Bashani, real estate attorney and negotiation expert, joined Cheddar News to provide tips on how to properly and better negotiate better financial terms.
Meta says it will start testing a program that would allow posts from Threads to appear on other social media sites.
