With Apple having announced all-time record iPhone sales, you might have expected analysts and investors to be impressed, and to see the AAPL share price rise as a result. Instead, the stock is actually down a little – so what gives?

The answer, like the one to so many questions today, is: China. This is the first iPhone launch where mainland China, and not just Hong Kong, has been included from day one. This means the opening weekend sales of 13M versus 10M last year aren’t like-for-like.

Apple hasn’t revealed what percentage of iPhone sales were made in China, but we can do some back-of-an-envelope sums to get a rough idea …  expand full story