Has the Apple fallen from the tree?

A negative response to Apples financial figures has seen investor’s bail, wiping 30% off its share value since September. The question is why is the market disappointed with record sales of the iPhone and iPad.

First the figures in question fall as follows:
Net profit - £8.7bn
Revenue - £34.5bn
Quarter sales of iPhones 47.8 million
Quarter sales of iPads 22.9 million
Here analysis shows that net profit remained even when compared to a year earlier but this was achieved on an increased revenue of 18%. This issue seems to have been caused by the rising cost associated with the latest product range. Could we have reached the limit on what we are prepared to pay for these devices? If so this will mean that to stay innovative Apple must make new product lines for the same cost as previous products or find something new to present users with that they will have to have at any cost.
The quarter sales for the iPhone were up compared to last years 37 million achievement whilst the iPad sales were also up on last years 15.4 million figure. The negative response from the market is believed to be centred on Apple not hitting the expected 50 million unit sales of the iPhone.
Apple is also sitting on a cash pile of 137bn so we won't see them falling into oblivion, but today the competition has comparable devices in the market at lower costs. 
The news coverage of Apple over last year and those before tends to centre on product launches and legal battles over patent rows with its competitors. Although these court battles keep the Apple name in the press we can only imagine what the legal costs are and how much profit has been handed over to legal council. Is this the most expensive PR tactic in the world?