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Business

Apple sparks worry over iPhone 7 debut

Opening sequence

Opening sequence

Business

Apple sparks worry over iPhone 7 debut

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COMING UP:Apple sparks worry over iPhone 7 debut

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Transcript

00:00:00
>>
APPLAUSE
>> Investors looking for a positive afterglow from Apple's unveiling of the iPhone 7 will be disappointed. Shares falling 2% Thursday, one day after the company took the wraps off a smartphone that ditches the traditional headphone and touts a souped up camera among other things. But it's Apple's decision to ditch the practice of releasing first weekend sales that really has investors tangled up in knots.
00:00:25
By breaking with tradition, Apple is sending what may be an unintended message, says Reuters' Silicon Valley reporter Julia Love, who broke the story.>> Investors are viewing this as a sign of weakness. They think that Apple is trying to mask the iPhone's negative performance and softness, so it hasn't gone over well so far.
00:00:50
>> And judging form the stock's slide, shareholders clearly are not buying a spokesperson's claim that the decision has more to do with a limited supply than demand.>> The iPhone is the lifeblood of Apple and it counts for more than half of its sales. And they have yet to show that they have another product that can fill the gap as the iPhone begins to loose steam.
00:01:13
And so, particularly coming off of two straight quarters of declining iPhone sales, it is critical that Apple reassure investors that the iPhone still has some juice left with the iPhone 7.>> While Apple shares have seen a bump up lately, they are still down over the past 12 months.
00:01:31
Investors still waiting for the, quote, one more thing, that really gets them excited.