Apple’s Quarterly Earnings Come In Below Expectations, Stock Drops By 10%

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The sales of Apple’s iPhone came in below expectations for the third quarter in row this week. Apple reported its first quarter revenue on Wednesday (Jan. 23) announcing the shipment of 47.8 million iPhones over the sales season ending in December. The number was up 29 percent from a year earlier, but below the 50 million projected by Wall Street analysts.

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