Even if iPhone sales disappoint and the stock sells off after hours, it will come back up again very fast, because:
1) Valuation is low. Apple should have about $135 per share in cash at qtr-end. Forward P/E ex-cash is about 8.6, which is absurdly low.
2) Apple will soon start paying dividends. With a yield of 1.8%, the stock will not fall much.
3) There are new products on the near horizon. Institutions will load up in anticipation of a...