From my Forbes.com blog The New Persuaders:
Apple just reported an extremely rare miss on its third-quarter earnings. The company came in below analysts’ expectations on profits, and Apple’s fourth-quarter outlook underwhelmed analysts as well, thanks in large part to “transition” issues this fall.
Translation: People are waiting for the iPhone 5 to come out and, as a result, they aren’t buying as many of the current models as expected.
The stock has fallen more than 5% after-hours. I feel really bad. Because I’m one of those waiters. …