Apple revenue, iPhone sales disappoint; shares dive
SAN FRANCISCO (Reuters) – Apple Inc missed Wall Street’s revenue forecast for the third straight quarter as iPhone sales came in below expectations, fueling investors’ worries that its dominance of the mobile industry was slipping. Shares of the world’s largest tech company fell 10 percent to $463 after-hours, wiping out some $50 billion of its market value from its $514 close. On Wednesday, Apple said it shipped a record 47. 8 million iPhones in the December quarter, up 29 percent from the year-ago period but below the 50 million shipments that analysts on average had expected. . . .
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