It's Wednesday, July 22nd. Welcome to Market Foolery. I'm Mark Wreath and joining me in studio today from Rule

Breakers Simon Ericsson and for a million dollar portfolio, Jason Moser.

Gentlemen, happy Humday. Howdy. Happy to see you guys.

Earning season rolls on and some big names announce numbers late yesterday including

GoPro and Chipotle, but we begin with the biggest Apple.

Late Tuesday, Apple announced fiscal third quarter earnings.

Jason, to the untrained eye, things actually looked pretty good and yet shares took a turn for the worse yesterday.

What happened?

Yeah, I mean, it was not a bad quarter by by any means I mean I think it's just you know

Apple has created sort of this just you know just not unrealistic expectations just very high

very high the bar is very high with them so it is sold 47 and a half million

iPhones expectations were for closer to 49 million so I think there's there's a little bit of a shortfall there.

I know, it's just a lugubrious performance, Mark.

But, you know, average selling price was $660 per phone. You know, that means that phones accounted for about 65% of the

company's overall sales for the quarter. You know bottom line this is still very

much a phone company. I know there was a lot of interest out there in the Apple Watch.

We got really not a whole heck of a lot of clarity on how that's performing.

I mean you can extrapolate the numbers from the you know the

other devices segment and you can come up with a range of anywhere from you know two

to three million watches sold possibly more. I think either way probably you know that more

or less sort of met my expectations of it'll do okay I guess but you know I

think that for people thinking this is going to be the next big

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