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If you can make $8 billion profit in a single quarter and for some reasons the estimates where higher, that's a problem with the estimators, not with your business. In 2012 on the planet Earth averaging nearly $4 million in profit every single hour of every single day is tremendous business.

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Sure, but the stock multiple prices in the estimates. If it can't meet the estimates, the stock is overvalued.

They beat their own estimates, but analysts are proven to be wrong all the time and the make up some numbers which don't reflect what really happens.

Here is a better TL;DR. Apple, missed average estimates for most of the reported values for iPhone, Mac, EPS, revenues and profit margin, but beaten its own guidance, which is usually quite low. The stock price was down over 5% after markets.

Most articles blame the next iPhone for the lower than expected sales. So In 1 year there are 4 quarters, and in the last 2 quarters misses on estimates are explained by rumours for the next iphone, this year and last year. Finally, will the current quarter also be worse for iPhone due next release approaching?

Analysts; please be clever enough to take care of new releases in your estimates.

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