Apple surprised Wall Street to the upside in its second quarter report because analysts misread supplier inventories and demand for iPhone parts, said TheStreet’s Jim Cramer. Cramer said Apple had the orders for iPhones but simply did not order enough parts for its product. Apple sold 40.4 million iPhones in the third quarter, while analysts were expecting 40.02 million. The company’s services revenue grew 19%. Cramer said the bears will be relentless in attacking Apple, but the technology giant’s services revenue will surprise the Street in future quarters.
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