If it weren't for the fact that margins are compressing at an alarming rate on iFad. The game is about margins. I can sell a zillion iFads for 50% off and revenue and pps will beat but margins will get crushed. That's what you're going to see going forward.
Another point: ~$56 a share in cash, and likely moving toward $75 in the coming qtrs. This thing is likely selling for about 10-11X this year's earnings when net cash is subtracted from the price you are paying--not bad for 50% grower!