The company missed the estimate by such an outrageous amount that it has now been named in a shareholder lawsuit . None other than Megan Graham-Hackett. Megan has been dead wrong about Apple. The record shows that she simply doesn't understand this company, its products and its financial prospect. She choose to overlook the wealth of positive indicators in the Q2 earnings report and simply use the lower revenue to support her previous bearish outlook.
Revenue is down primarily because of a shift in product line and the lowering of average unit price.
As we all know Q2 has historically been Apple's weakest quarter. For the company to accomplish this in its weakest quarter is great news indeed. Megan's negative comment regarding AAPL doesn't surprise me. After all, I didn't expect her to come out and admit that her past analysis were flawed. James Staten from Dataquest.