Apple's Chinese revenues surge 112% in Q3 to lead worldwide growth

Cook and Maestri were upbeat about the numbers during the call, but the iPhone numbers were in the low range of what traders were expecting.

It sounded like inventory was not managed optimally to keep ahead of the global demand, meaning they could have sold more product in the quarter, but were afraid of over producing and over supplying some regions.

Guidance for next quarter was not very well received, even though it is going up a tad.

Apple sells 47.5M iPhones in record-breaking Q3, revenue jumps 33% to $49.6B

The Mac continues to grow in the face of declining PC sales, up 9 percent in the June quarter
Unsurprisingly, Apple did not announce any specific sales figures for its newly released Apple Watch
Cook revealed that Apple Watch has outpaced the launches of iPhone and iPad
The iPhone attracted more Android switchers last quarter than Apple has ever seen
iPhone average selling was $660, an increase of $99 year over year
Apple ended the quarter with $220 billion in cash, $190 billion of it held offshore

Apple sells 47.5M iPhones in record-breaking Q3, revenue jumps 33% to $49.6B

- Fortune

Notes of interest from Apple's Q3 2015 conference call

Apple profit up 38%, but iPhone sales disappoint Wall Street

Even when Apple jumps, investors wonder why the company can't jump a bit higher.

That was underscored on Tuesday when Apple reported double-digit increases in sales and profit for its fiscal third quarter, a rate of growth that is highly unusual for a company of its size. Yet the results still fell short of estimates by Wall Street analysts, who are accustomed to Apple blowing past projections and had been predicting sky-high sales of iPhones and the company's brand-new Apple Watch.

Apple Profit Up 38%, but iPhone Sales Disappoint Wall Street - The New York Times

Manhattan Venture Partners Chief Enonomist: Apple is Still Minting Money

Manhatten Venture Partners Chief Enonomist: Apple is Still Minting Money - Patently Apple

Market watchers see buying opportunity as Apple shares slide after June quarter miss

Lofty expectations were beyond the reach of Apple last quarter, sending shares tumbling more than 7 percent. But a number of bullish analysts see the stock pullback as a buying opportunity for investors, who can get in at a cheaper price before the launch of new iPhones.