Apple's $8.8 billion earnings on a $35 billion revenue this past quarter is being viewed as a disappointment. That's what happens when you get too good at doing what you do. The expectations just keep on going up and up.

Apple sold a record of 17 million iPads (twice of what they moved in the same period a year ago)/ Also, remember that they also sold 26 million iPhones just months before everyone knew of a newer better iPhone coming. And there was also an increase in Mac sales too.

Still, Apple didn't perform as well, as viewed that is. The iPad numbers don't include the initial onslaught of orders following the tablet's Q1 announcement.

Apple will be holding a call at 5 p.m. EST to talk about how they're going to turn all that cash presumably, into more cash.

Stay tuned. [Apple]