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Apple’s First Annual Sales Decline

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Editor’s Remarks:

Although in line with analyst expectations, for the first time since 2001, Apple’s fiscal sales were lower than the year before. Revenue declined from $234bn to $216bn, mainly due to collapse in iPhone sales which saw a $18bn decline. This is concerning because the iPhone is Apple’s flagship product and has been a tough realisation for shareholders. Apple must develop new products to continue growing in the medium and long term. It seems that Tim Cook has a difficult task ahead in keeping the iPhone the top smartphone product.

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