Apple’s hit-and-miss report: What the analysts are saying

Most see a silver lining, despite disappointing Q4's earnings and troubling Q1 guidance

FORTUNE -- The earnings report Apple (AAPL) issued Thursday evening was complicated one, and analysts on Friday -- like voters in the U.S. Presidential election -- were trying to thread the needle between hope and disappointment.

Excerpts from the notes that came in overnight:

Morgan Stanley's...

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