Having trouble getting your hands on an iPhone 7 Plus, the larger of Apple's latest smartphones? You're not alone — it's on backorder across the country for many color and storage size options.
The 7 Plus is tricky to find because Apple underestimated demand for the bigger iPhone, company executives said on an earnings call Tuesday. There was higher demand than expected "particularly on the iPhone 7 Plus versus our forecast going into the product launch,” said Apple CEO Tim Cook. Cook said demand may continue to outpace supply through the holiday shopping season, a bummer for consumers and Apple alike.
Apple still managed to sell more total iPhones than expected in the most recent quarter. It sold 45.51 million smartphones, compared to Wall Street analysts' expectations of 44.8 million. But total iPhone sales were down for the third straight quarter, resulting in the company's first annual revenue drop since 2001.