With AAPL down almost 12% because of iphone sales being less then expected sales and gross margins on iPhone coming down one has to wonder if the management will be thrown into a tailspin trying to satisfy expectations.

On a conference call with analysts, CEO Tim Cook was unapologetic about selling less-expensive items. He said *the company's best measure of success is whether customers love Apple products*. Noting that Apple sold 10 iOS devices per second last quarter, Cook said Apple hit the mark.

"You're going to hear a lot of impressive numbers on this call, but that's not the only way we measure success," Cook said. "We're unwilling to cut corners to *deliver the best experience in the world.*"

Its nice to know that management is thinking about the long term and still has the great customer centric culture that made it great, not just trying to satisfy wall st short term expectations, perhaps that is why they keep such a large reserve of cash so they don't need the capital markets when a great opportunity is present.

The traders and analysts are seeing blood on the street because margins and sales are less then expected on a current product, but if stocks are for the long term does it really matter what the current product does in a particular quarter or what is the company vision for creating a customer? Perhaps this dichotomy is the opportunities Henry Clews spoke of when he talked about the old men taking their canes out.





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