Apple is fine. The report last night was not a disaster as some feared.
The idea that they are a-cyclical, or immune to economic weakness is just not true. The stock traded up last night in part because gross margins were so strong. The guidance tells the real story in my opinion. Revenue for the December quarter is going to be below where estimates were yesterday. You can say that they are just being conservative again but they missed the high end revenue estimates for the September quarter.
This doesn't bode well for consumer electronics this Christmas.