NEW YORK ( TheStreet) -- Life has proven time and time again that "all good things come to an end." Apple (AAPL - Get Report), which has suffered a 45% decline since reaching an all-time high of $705, is no exception.That said, as an Apple shareholder and an unabashed "fan-boy," I can say (as objectively as I can) that this degree of "over-correction," which suggests the company was spiraling down BlackBerry's (BBRY) path towards irrelevance, was irrational, if not complete nonsense.
Remarkably, Apple managed to sell about one million more iPhones than expected, arriving up 3% year-over-year, despite increased competition from Samsung's dominant Galaxy line of phones and the improvements made by BlackBerry and Microsoft's (MSFT). Mac revenue was a bit soft, though. The fact that Mac sales arrived just 7% higher year over year was discouraging. However, given the overall state of the PC industry, which has fallen prey to tablets, weak Mac sales came as no surprise. Plus, Apple more than made up for this deficit from iPads, up 40% increase in revenue, or 7% higher than Street estimates. While Amazon's (AMZN) Kindle Fire and Microsoft's Surface tablet are worthwhile devices, Apple's iPad still remains the standard and the number one choice among consumers.