I agree re: faster iteration to keep up with competition, but my point is in line with what was said in the earnings call - Supply of the iPhone 5, ipad Mini an

I agree re: faster iteration to keep up with competition, but my point is in line with what was said in the earnings call - Supply of the iPhone 5, ipad Mini and new iMacs was constrained, so they were unable to meet demand. Combine it with a shorter quarter and you can account for a good amount of the shortfall in margin.