Apple Shares Slide
With the death of Steve Jobs, Apple has suffered lower than expected iPhone sales, and it looks like iPhone has lost it’s shine. Apple reported no rise in profits and slightly missed revenue estimates and shares collapsed 10% in after-hours trading.
Apple sold 47.8m iPhones over the Christmas quarter, missing a forecast average of around 50m.
There are signs that rival manufacturers such as LG and Samsung may be gaining ground on Apple in recession-hit Europe with lower-priced handsets.
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