Last night Apple reported Q3 fiscal 2012 earnings. If you look at some of the headlines floating around, you’d think Apple was in some kind of trouble. Phrases like “iPhone slump” and “big earnings miss” are being tossed around as if the sky is falling on Cupertino.
What a joke. I think this just proves how short term Wall Street’s memory can be. And I’ll get to that in a bit. For now, let’s go through the basic numbers to understand what all the fuss is about.