Smartwatch shipments really under performed at least, “in C2Q-16, down sharply to 3.5M units, a decline of 32% Y/Y,” according to IDC. The performance of Apple Watch could partially be derived from that example, so the performance in the “other” segment where they sell Apple services, software and accessories shouldn’t be that good going into the quarter. On the other hand, the business could recover with the launch of a refresh, which was largely absent in the beginning part of the year.That being the case, this doesn’t alter my assumptions on Apple’s revenues too much. I guess, everyone got their hopes up a little too high with regards to Apple’s most recent product offering. I believe growth catalysts will come in the form of recovering PC shipments, refresh of the Apple iPhone, and on-going software revenue ramp in the upcoming year.