Apple sags in 3Q as iPhone gets cheaper
NEW YORK – Apple products have been getting cheaper. That's good news for consumers but not for investors, who thought the company would keep boosting profits and revenues at its previous breakneck pace.
On Tuesday Apple Inc. revealed that its growth slowed in the most recent quarter. In both revenue and net income, the company posted the smallest increases in years, and failed to meet analyst expectations.
It wasn't so much the volume of sales: Apple sold 17 million iPads in April to June period, beating expectations, and 26 million iPhones, at the low end of expectations.
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