Quote of the Day: Nine Months Is an Eternity in Apple-Land

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From Piper Jaffray analyst Gene Munster, commenting on sales of the iPhone 5:

This is a tired product, it’s been out three quarters.

He’s not wrong, but it’s still a pretty astonishing statement, isn’t it? In any case, Munster was actually using this as a defense of Apple’s second straight quarter of mediocre results. iPad sales were down 14 percent and Mac sales were down 7 percent, but iPhone sales were up 20 percent. That’s nothing to write home about, but it’s better than last quarter. And while the softness of iPad sales isn’t too surprising considering the huge channel inventory glut at the end of last quarter, it’s still bad news.

Overall, revenue was flat and earnings were down 22 percent from last year. Despite all this, Apple beat expectations, which just goes to show that expectations aren’t what they used to be. I’m certainly not writing off Apple or anything, but at the moment it sure looks like it’s not just the iPhone 5 that’s tired. I think Apple looks tired. Perhaps they’ve succumbed to the imperial headquarters disease.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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