Apple's Q3 Earnings

When Apple reported its results for the third quarter of their fiscal 2012, most analysts were underwhelmed by the numbers: iPhone sales fell short of expectations and so did revenue.

Bearing in mind that expectations are traditionally high when Apple is involved, investors shouldn’t be too worried. The explanations for Apple's "disappointing" quarter are fairly straight-forward: Most importantly, iPhone sales suffered from the looming arrival of the iPhone 5 which likely led many potential buyers to delay their purchase. Secondly, European markets are in a bad state and the Euro crisis appears to have reached the consumer. In the earnings call, Tim Cook admitted to growth being particularly week in Western Europe while business in America and Asia was doing well.

Beside some disappointing numbers, Apple shared some good news as well: Apple sold more than 17 million iPads from April through June, beating its own as well as many analysts’ expectations.