I resisted posting too many of the dumb analyst reports in the wake of the earnings call because I was trying to contextualize it. The Macalope did it for me:
Long story short, the number that Apple “missed” is the average of Wall Street analysts’ made-up numbers. They have no real idea what Apple’s going to announce; they’re making a guess based on second- and third-hand information. In a rational world, no one should have to explain that Apple is under no obligation to meet Wall Street’s estimates. What people should be concerned with is whether Apple improves on its own numbers. Which it did. Handsomely.