Much of the falloff is attributable to the stuggling Chinese economy,still the moment-largest market in the world for Apple products behind the USApple shares dropped on Tuesday afternoon after the company reported a nearly 13% fall in quarterly sales, the first time revenue at the world’s most valuable publicly traded company has declined in 13 years.
As of publication time, and shares were down more than 7% without appearing to hit bottom. Revenue was predicted by Apple itself to fall between $50bn and $53bn – it came in on the low stop of that range,with a final tally of $50.6bn, a 13% drop.
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Source: theguardian.com