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Business

iPhone 7 lacks headphone jack, hype

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Opening sequence

Business

iPhone 7 lacks headphone jack, hype

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Transcript

00:00:01
>> Two, one, go.>> The iPhone 7 debuting in stores across the globe. And from the reception it appears, Apple's top product has gone from the greatest consumer gadget on the market to just another smartphone. To be sure, a lot of people want this phone, but no one in line will walk away with the new jet black 7 or any 7 Plus.
00:00:21
Both sold out online.>> If it was just for the camera alone, and if there were any other features, I would buy the iPhone 7 Plus because I pretty much take all my photos now with my iPhone.>> But the less than stellar reception for a phone more known for what it lacks, an earphone jack, than what it offers, taking some wind out of Apple's stock.
00:00:45
Shares rose about 12% in the first four days this week on Friday, closing down over 0.5%. Reuter's reporter, Julia Love.>> Best case scenario would be modest growth. I think that even a flat year would appease people. But if the iPhone is slumping again, as it did last year, that will stoke a lot of concern on Wall Street.
00:01:08
>> Apple breaking with tradition won't be releasing sales number for the first weekend, although T-Mobile on Friday said the phones were the most pre-ordered devices in T-mobile US history. Sprint also said earlier this week, pre-order numbers were strong. Although an executive with the bigger carrier, Verizon, told investors demand for the iPhone 7 appeared to be quote, business as usual.
00:01:32
One thing Apple does have going for it, pain at its rival Samsung facing a global recall for its exploding Note 7. Now Apple investors will be watching how much luck the 7 will bring for the Cupertino tech giant.