Most smartphone manufacturers would die to produce phone sales of 26 million in any quarter of the year but Apple sales of the IPhone for their third quarter, came in 2 million short of analysts expectations in numbers and the overall profit of US$8.8 billion was also lower than average forecasts.

Apple watchers are a little worried by the slower growth in Apple sales but with a new Iphone model expected in time for the Christmas market they should have a strong finish in their financial year.

The Ipad with lower profit margins than the Iphone, had sales of 17 million units in the period, 2 million better than the general consensus, despite a feeling that the IPad 3 wasn't that different from the Ipad 2, but the Apple loyalists will pay for the faster processor and improved picture clarity.

Apple shares that have soared by nearly 50% over the last year fell by 6% on the news.