Apple revenue falls short again, iPhone sales disappoint

Apple revenue falls short again, iPhone sales disappoint

Apple Inc missed revenue expectations for the third straight quarter after sales of its flagship iPhone came in below Wall Street's targets.

The company said on Wednesday it shipped 47.8 million iPhones, a quarterly record that nonetheless disappointed many analysts accustomed to years of outperformance from the device that helped revolutionize the smartphone industry. Wall Street was predicting roughly 50 million shipments, on average.

 

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