The Company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share. (...) Gross margin was 39.7 percent compared to 39.4 percent in the year-ago quarter.
Investor conclusion: Apple is not doing so well. There is something wrong with the stock market when a company post record profits, almost 40% margin (on electronics) and that's seen as an omen.
I understand it is the opposite, brokers bet earlier that the results would be even better and are now unloading the bets at a lower price (causing the market correction) but even so it is amazing how detached stock brokerage is from investment and how close it is from gambling.
Funny, I reach the exact opposite conclusion: people were willing to pay a specific price for Apple dependent on the expectations of future earnings. Those earnings didn't meet expectations, therefore the market adjusted the price. Working as intended.
The 49-51b number is the Q4 estimate.
edit: was incorrect on my numbers.
spiralpolitik: Expected revenue for Q3 was 46-48b (see Q2 earnings press release). So they beat the estimate by 1.6 billion. The 49-51b number is the Q4 estimate.