The biggest earnings news of this very busy week came from Apple (AAPL)

The biggest earnings news of this very busy week came from Apple (AAPL). In general, investors were very disappointed with earnings, with the stock down 7.5% as of this writing. The big shocker was lower than expected sale of iPhones (51 million compared to 55 million projected). While sales still set a record, AAPL's China Mobile deal didn't contribute as much as expected. Moreover, the company projected this quarter's revenue at far less than analysts' expectations. On the other hand, the company did beat earnings expectations by a hefty clip ($14.50 per share versus $14.07). Plus, Mac and iPad sales came in quite a bit higher than estimates, boosting gross margin. Meanwhile, the company may move into the mobile payment space, a logical expansion opportunity. Finally, Carl Icahn is using this pullback to load up on another $500 million in AAPL stock. (VIEW LINK)