Oh my gosh, oh goodness gracious, Apple missed Wall Street analyst expectations for the first time in almost a decade and the stock is in free fall.
Well, sort of.
The miss was entirely about the iPhones. They sold 17 million in the third quarter instead of the 20 million-ish analysts expected. Mac and iPad sales were just dandy. But given the delay and build up for the new iPhone, how surprising is this really? And given the huge sales of the iPhone 4S so far -- not too mention the not-yet-disclosed sale of cheap versions of the two older models -- how long will it be before those same Wall Street analysts start massively hiking their estimates of fourth quarter iPhone sales? And that stock plunge? Takes the share price all the way back to last week.
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