Apple CEO Tim Cook said that the company has new products launching in the fall, but indicated that the real cycle will be more of a 2014 story.
Throughout Apple's second quarter earnings conference call, Cook said he was confident about the company's product pipeline and that Apple's products will compete well against Google's Android and Samsung on many fronts.
But for investors waiting for some hints that Apple would be launching new stuff, Cook handed out a bit of disappointment.
Steve Milunovich, an analyst at UBS asked Cook:
Tim, you alluded to fall announcement of products. Is that indicating that there may not be substantial new products until literally Fall? Late September which means the September quarter could look a lot like the June quarter? Is that part of what you're implying or were you being more general?
I don't want to be more specific. But I'm just saying we've got some really great stuff coming in the Fall. And across all of 2014.
The reaction in after hours trading was swift as Apple's 7 percent gain faded quickly on the comments.
Bottom line: Apple's quarter was solid, the outlook was a bit light and folks were willing to live with that reality for the June quarter. Cook's September quarter chatter may have been asking for three months too much in the patience department.
Earlier: Apple statement