Apple Stocks Down: iPhone Sales Not Up to Market Expectations (VIDEO)

Wall Street Disappointed After Below-Par Sales — Apple Stores Pause for Tribute

By George J. Wienbarg, Christian Post Reporter Wednesday, October 19, 2011

Apple stocks have taken a dive after sales of the iPhone were not up to Wall Street’s expectations. In a sign of things to come for the tech giant, the disappointing third quarter results were down some 5 percent.

Apple Stocks Down: Only 17M of 20M Projected iPhones Sold

Despite the company’s record-setting iPhone 4S sales, analysts had predicted sales of nearly 20 million units. Sales so far have been just 17 million.

For the new Apple CEO, Tim Cook, who took over for the ailing Jobs in August, the hit was particularly painful as the Good Ship Apple sails on without Jobs.

Meanwhile, if you see your Apple Store closed today, it will only be for 90 minutes. Starting at noon Pacific Time. The outlets will be giving time to employees to celebrate a multi-media presentation from Apple headquarters in Cupertino, Calif. celebrating the life of their beloved former captain.