Apple surpasses low bar while announcing massive share buyback as it hits a two month high

Apple Inc. $AAPL(AAPL) shares have been under pressure as reports of poor performances in China and weak demand for its products around the globe drove sentiment lower. The company has a long history of proving the critics wrong and it has done so once again.

The top and bottom-line figures were generally in line with expectations but better than the feared assumptions. iPhone sales proved to be better than feared. The company"s projected death in China also appears to be premature as the -8% decline in revenues was well above expectations.