So they create a phone that sells 4 million units in the first week, and it's called a "miss"?
This quarter has nothing to do with that why even bring that up? You will have to wait for next quarter for that. Yes it was a miss and a pretty bad one, when all were expecting another blowout quarter and the estimates were missed. It already had a VERY strong run up because of hype so I wouldn't be surprised if it dropped to like $370 which is IIRC around it's 50 day moving average.
That being said although it has been rising meteorically the last few years, it still doesn't have an outrageous valuation somewhere around a 15 P/E so I'm still bullish on it. I sold at $424 at about 3:30 expecting it would crush earnings and would still drop to around $400 since the extreme run up prior to reporting. Was going to buy right back tomorrow at around $400 if it dropped but now I'm going to give it a few days hope for a market pull back I'm thinking will happen until Friday at least, then try to buy in around $370.
People seem to either be saying "the sky is falling" or that "aapl had an amazing quarter in what world is a $6.6 billion profit an annual rise of 54% a miss?" I'm in between no the sky isn't falling aapl's short term and long term fundamentals are still sound, but it was a miss and a pretty bad one IMO, the company is run by men not gods they had a misstep and it's very reasonable for people to take profits let the news digest and reevaluate the situation.
Just my opinion and worth exactly what I'm charging for it.
Sorry, I made a wrong assumption there. Been reading so much about iPhone this and iPhone that, I naturally thought that any time anyone was talking about Apple these days, it was about the iPhone. Especially when they talk about failure, since, some people just didn't think the 4S was going to do well.
ANYWAY, interesting that Apple missed expectations. I wonder if it'll be the other way around next quarter? Though I guess the sales figured are out there, so it should be pretty easy to figure out expected revenues.