Too much competition in the phone & tablet market. A lot of people will not pay a premium for an Apple product when you have other companies that will sell a similar product cheaper with almost the same quality. JMHO.
This is a time when Wall Street inanity will be smacked in the face with reality. The whole point of a company is to make money and Apple has made several tons of it. At this point a huge chunk of the nest egg and all future earnings should be returned to shareholders. Once that is announced Apple will have the equivalent of a 12% yield.
Who cares if someone wants to call only earning $10 billion dollars a "miss". Making 2.5% of a stock's market cap in one quarter is rather amazing, especially when that money goes directly into shareholder pockets. Even Wall Street isn't dumb enough to pass up a cash cow like that.