Expectations have become absurdly ridiculous.
New technologies used to take 12 to 18 months to achieve just 1 million units in sales from multiple manufacturers. Apple is selling iPads, a device that no one HAS to have, in the worst economy since the 1930s, with high levels of unemployment in most countries, at a current rate of 50 million units per year (assuming the 13 million can be extended to all quarters) and they sold 3-4 million iPhones in the first weekend as well?
These kinds of sales levels would have been considered absolutely impossible just five years ago even for totally new products, never mind for upgraded models of existing products. In fact, these would have been considered great ANNUAL sales numbers.
While I've been a big Apple fan for decades, even I thought that Apple was going to have a very rough time in the recession. Apple proves that even in a recession, consumers (at least those people who are still working) move to quality.
Because of this incredibly stupid report, I bet Apple stock drops today.
It's not just quality. It's the apps. If you can't buy a lot of stuff, the second choice is to be able to buy something that can BE a lot of stuff.
If I get an iPad, I can play games, it's like having a new computer, I can do all this great stuff with it...