Apple Meets and Beats

Apple hit the revenue number and clobbered the earnings.
Earnings continue to benefit from ongoing chip pricing softness.
As expected, sales came down to the Mac because iPod growth is slowing: the MAC is 60% of their revenue.

I am concerned that Apple's earnings fortunes are outside of their control. Just as chip price drops helped Apple, chip price increases can hurt them.

But for now, all is great.