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The reason the stock fell is because the expected results were built into the price. So when the numbers didn't meet the market's expectations, the price adjusted accordingly.

The expectations have nothing to do with where they were last year. Rather, they're built on forecasts of how the market (and Apple) think they will do in the future.

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As already mentioned in this thread, expectations of how it WILL do for this quarter are astronomical. Sales numbers that are already in back this up.

Also see here: http://news.ycombinator.com/item?id=3128143

So, no, this shift is not explained by how anyone thinks Apple will do in the near future.

Good link. I'm not sophisticated enough to consider those aspects. I was really only referring to the spectre of beating YoY numbers by %50, and it still being considered "below expectations"

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