Apple's Stock Plunge: Is It a Long-Term Concern or Just a Temporary Blip?

Apple's stock took a hit on Friday, but Gene Munster believes it may just be temporary. The company reported record-breaking numbers in its third-quarter earnings, including a double beat and record iPhone revenue. Despite this, the stock fell due to concerns over the future outlook.

Munster stated that the September quarter was not as grim as it seemed, with Apple's double beat and record iPhone revenue a positive sign for the company. In a blog post, he noted that while the future outlook may be uncertain, the current numbers suggest a strong performance from Apple.

However, Steve Jobs' 1995 interview criticizing Microsoft has resurfaced, where he compared the company to fast-food giant McDonald's Corp., stating that it lacked originality and prioritized business over user experience. This criticism was met with pushback from Microsoft co-founder Bill Gates.

Apple also flagged a headwind that could affect iPhone, Mac, and iPad sales, despite its third-quarter revenues growing 16% year-over-year to $109 billion. The company's earnings of $2.02 per share were impacted by this headwind, as noted by Rosenblatt Securities.