There Aren’t Enough People Willing to Pay $650 for an iPhone: Analyst
Apple shares sink after the tech giant's iPhone sales slid during its fiscal second quarter.
Apple (AAPL) - Get Report shares sunk after the tech giant's iPhone sales slid during the first three months of the year, prompting investors to wonder if the company's best days are behind it. According to Michael Ingram, a market analyst with BGC Partners in London, iPhone sales are slowing because there simply aren't enough people willing to shell out hundreds of dollars for a premium product. Though the company still sold 51.19 iPhones during its fiscal second quarter. That's about ten million less than the same quarter last year. TheStreet's Scott Gamm reports from Wall Street.
