"I'll leave it to the analysts to explain why Apple's stock went down 8% today," David wrote on Tuesday, the day after Apple (AAPL) turned in the fourth highest quarterly earnings ever reported.
It was Apple's fifth $10-billion-plus quarter in three years. Only oil and gas companies make that kind of money, and they haven't seen $10 billion quarter since 2011.
So what about David's question? Why did the stock drop 8% Tuesday?
I suspect part of the the answer can be found in the geometry of those five red bars. Apple is reporting record earnings, but Wall Street is looking for earnings growth.
CORRECTION: An earlier version of this story had the order wrong. Q1 2014 was the fifth biggest quarter of all time, $6 million shy of the previous year's $14.078 billion.
Disappointed with iPhone sales. Spooked by second-quarter guidance.
FORTUNE -- The Christmas quarter was a complicated one for Apple (AAPL), with record iPhone sales that disappointed, record iPad sales at lower average prices, and guidance that alerted investors that they can look forward next report to the company's first year-over-year revenue decline in 11 years.
Most analysts did their best to explain the nuances behind the numbers Apple released Monday night, but there MOREPhilip Elmer-DeWitt - Jan 28, 2014 10:53 AM ET
None of the analysts -- pros or indies -- got everything right this quarter.
FORTUNE -- This was tough quarter to call and none of the 47 Apple (AAPL) analysts we polled -- 29 professionals and 18 amateurs -- got everything right. Or even close to right.
Wells Fargo's Maynard Um, who came in first place on the top and bottom lines -- having missed EPS by only a penny -- came MOREPhilip Elmer-DeWitt - Jan 28, 2014 7:52 AM ET
Shares tumble $50 after-hours on disappointing iPhone sales and Q2 guidance.
FORTUNE -- Apple (AAPL) reported record earnings of $14.50 per share on sales of $57.6 billion Monday -- beating both its and Wall Street's expectations. But unit sales of the iPhone were less than expected and the company's guidance for the current quarter -- $42 billion to $44 billion -- was a disappointment to investors, who were anticipating a top MOREPhilip Elmer-DeWitt - Jan 27, 2014 4:50 PM ET
Can Cupertino still pull a rabbit out of the hat? We'll find out this afternoon.
FORTUNE -- "We believe fundamentally that people love surprises."
That was Tim Cook explaining to ABC's David Muir Friday why he wasn't going to answer any questions about future devices. Like Steve Jobs, Cook believes in the big reveal, on stage, with the global media watching -- at least when it comes to new products and services.
For quarterly financial MOREPhilip Elmer-DeWitt - Jan 27, 2014 10:15 AM ET
The consensus forecast of 47 analysts: Earnings of $14.36 per share on sales of $58 billion.
FORTUNE -- The results of Fortune's quarterly survey of Apple (AAPL) analysts are in, and you could look at the findings -- depending on how full or empty your Apple glass happens to be -- as a shift to sustainable growth, a pause before the next big thing, or the end of a high-flying era.
The consensus estimates MOREPhilip Elmer-DeWitt - Jan 26, 2014 2:19 PM ET
Average estimate: $14.32 per share on sales of $57.9B. Apple's guidance: $55 to $58B.
FORTUNE -- On Monday, after the markets close, Apple (AAPL) is scheduled to announce its results for the first fiscal quarter of 2014, and we'll get to test not just the forecasts of our cadre of Apple analysts -- a mix of pros and amateurs -- but the accuracy of Apple's predictions under the new regime.
In the MOREPhilip Elmer-DeWitt - Jan 24, 2014 9:52 AM ET
The analysts' estimates range from 21 million to 28 million. Average: 25 million.
FORTUNE -- Four years after Steve Jobs introduced it, the iPad is Apple's (AAPL) second biggest cash cow.
If the iPhone generates a bit more than $5 of every $10 Apple collects, the iPad brings in nearly $2. And for both products, the holiday quarter -- the one that Apple reports next Monday -- is the big one.
iPad sales MOREPhilip Elmer-DeWitt - Jan 22, 2014 7:29 AM ET
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