It's not hilarious. Gross Margin is down from 44% to 38% That's a serious move. 2-3% would have been more in line. Stocks trade on forward potential, not past results - Apple may have had an ungodly quarter, but the future doesn't look as exponential; that's the key.
First of all GM was already guided and actual GM is in the upper range.
Second, relative to almost every other company AAPL's PE is still low. Compare to GE and Amazon. Show me a company with better potential (in terms of PE).
Third, your use of the word "exponential" is irrelevant. Nobody is expecting exponential with relevance to AAPL and its share price. It's just you who threw in that word as if it belongs anywhere in the context of this discussion.
But yes, I get your tone... and with regard to AAPL, it seems to be the predominant one. But don't pretend that the market is not more sensitive/critical to AAPL than almost any other stock.