Apple just announced that it sold 14 million iPads during its fiscal fourth quarter.
This is a massive disappointment.
Apple's iPads business actually shrank q/q. 14 million iPads sold in Q4 is 3 million fewer than the 17 million Apple sold in Q4.
Apple missed analyst expectations. Until Tuesday, analysts were all predicting that Apple sold 17.5 million iPads during the quarter. Then, when Apple announced the iPad mini, it pre-announced some disappointing sales figures and analysts revised their numbers to 15 million. So Apple missed original expectations by 3.5 million, and pessimistic, revised expectations by 1 million.
Here's a chart showing Apple's iPad business shrinking q/q: