Apple Expects Holiday Cheer on Strong iPhone Sales

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Apple investors are a tough crowd these days- the company's earnings beat forecasts- as did revenues. Apple sold more iPhones than ever for the September quarter- and iPad sales were up as well. Mac sales were better than expected. Apple raised their 4th quarter guidance. And even signaled a strong holiday season. But the stock reaction was one of indecision- it fell immediately after the report- only to regain ground later on. Alex Gauna covers Apple for JMP securities: