iPhone 4S Launched, Apple Reports Earnings

The launch of the iPhone 4S mirrored previous iPhone launches with long lines, sell-outs and broken sales records at AT&T, Verizon and Sprint. A reported 4 million units were sold over the weekend. The downside was slow and problematic activation for the new phones, with some people having to wait hours before they could use them.
In Apple’s quarterly report it showed new highs for Mac sales with almost 5 million Macs being sold in the last quarter. This is despite the sale of more than 11 million iPads, some of which may have been purchased instead of a new Mac.
Wall Street wasn’t impressed with Apple’s numbers. Even though they passed Apple’s own estimates, they missed the estimates of Wall Street analysts. This was mostly because of lower iPhone sales due to the fact that a new iPhone model wasn’t released until after the end of the quarter.
Apple continued to honor its co-founder and leader Steve Jobs this week with a new section of the Apple web site, and a private memorial event at Stanford University, and a 3-hour Apple Store closure for employees to participate in a staff event.