I think the surprise will be iPhone 4 and 4S demand. iPhone 5 sales are fine. We know it from all the data we have so far. Market growth is fine (40% according to ICD). Market share is increasing (according to Kantar and comScores). The 4 and 4S accounted for 32% of sales in October according to one study in the U.S. and obviously higher OUS. My money is on the fact they they experienced higher early yields, higher 4 and 4S mix then expected and they are moving to a new display (reported by many) in the next phone. No way they needed 65 million displays in the Jan - Mar period unless they were expecting huge yield loss. The quarter will still be very strong IMO. Who knows what happens to stock this week.