Apple reports it sold more than 5 million iPhone 5's during the opening weekend.
5,000,000 phones in two days. And Wall Street's crying that this is a very disappointing number.
It's below the stock market's estimate of 6 million to 10 million and stock analysts now worry growth may be slowing at Apple.
Here's the chart that Wall Street says condemns the Apple 5 sales:
Opening weekend sales grew 70% between the 3GS and the iPhone 4, and then an astounding 135% between the 4 and the 4s.
iPhone 5 sales, so far, grew only 25%. That could reflect "massive deceleration."
But, c'mon on. it's 5 million smartphones. The plummeting red line is meant to catch your eye but the blue bar is up, up, up. Sure, there are a couple more countries in there, but that, too, is a positive. Getting the iPhone faster into more markets makes Apple stronger.
What if there is less percent of immediate switch-over to the latest Apple model? As long as the customers are not switching over to another brand, Apple still retains its market share and its power to control the market. That may upset the money changers in the smartphone temple, but it means the religion is still strong.
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