The results have come and gone. The revenue declines continued, but the stock has not taken a huge pounding. This could be because the stock has already been beaten down for all the reasons possible. Lower growth, lower margins, lower expectations, lack of innovation etc. Apple results indicate a slowing growth in revenues on a sequential basis and a decline in net margins. It did well in Greater China and iPad did great on a YoY basis. For all other products / markets there was nothing impressive, especially on a sequential basis. What this lack of fall in the stock has done is to make one a little more confident that the recent low of $385 may hold for some time. Basically, Apple is not expected to repeat its past growth performance any more. While competitors may grow for a while, ultimately, they will also start to fall victim to higher than feasible expectations. So Apple will slowly cease to be the favorite for analysts, and that is good for the stock. Expectations of a buyback or higher dividends etc. will keep it alive. The stock may inch to the 50 DMA at $430-435, and after that test for strength will be experienced. In fact, $426 will be difficult hurdle to cross. Apple, has to quietly continue its efforts at creating that one wonderful innovative product which can give a new push to the growth. Company has also been in news for its patent infringement litigation with VirnetX (VHC), and decided to contest the $326 million award against it. There have been several other such patent infringement lawsuits e.g. MGT Capital Investments (MGT) lawsuit against casino gaming companies which is keeping the stock extremely active before the Markman hearing. The lawsuit is potentially worth $4.5 billion for MGT. Apple has to avoid unintended violations of patents, and keep its eyes open for innovation being done outside its internal R&D.