In Apple Inc's recently released quarterly results, it was able to sell 33.8 million iPhones in the quarter that ended September, but its gross margins and profit went down. According to industry observers, some investors were disappointed with the tech giant's performance. Apple shares fell over 2% after the company announced its quarterly sales.

Analysts shared their opinions about the company's quarterly performance on Reuters Instant View. Shannon Cross of Cross Research said iPhone sales proved, however that the unit was doing well.

Cross added, "They guided for a solid quarter and it came in a little bit above where they guided. The upside looks like more aggressive share-repurchase and better iPhone numbers than people were expecting."

Hudson Square Research Analyst Daniel Ernst said Apple's stock fell after the company gave its quarterly report because of irrational expectations from analysts who predicted higher figures.

Meanwhile, Morningstar Analyst Brian Colello said, "With the higher-price phones and clear preference toward the 5S, we were all expecting more of a gross margin boost for the December quarter."