A leading Apple analyst just blew it - here's why (APPL)

On Tuesday afternoon, Apple (NASDAQ:AAPL) posted strong earnings results for the first quarter of its 2017 fiscal year. Revenue beat analysts' forecasts and the company's own guidance range. Earnings per share comfortably beat the average analyst estimate as well. Finally, iPhone sales rose 5% year over year, to 78.3 million units; most analysts had been expecting a smaller increase -- or even a decline.
One of those analysts wrongly expecting an iPhone sales decline was Ming-Chi