Apple Reports one of the Largest Corporate Earnings in the History of the Earth, Stock Down 10%

How could I not link to this? (For those of you still keeping track, Horace has now bitten his fingernails completely off.)

Asymco’s estimate for iPhones sold: 55.5 million.

Actual iPhones sold: 47.8 million.

Close, but no cigar. I expect Horace to write a follow-up article soon, explaining his thoughts about the discrepancy.