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Apple puts weak faith in anniversary iPhone to return to growth

Apple has little to celebrate after another disappointing quarter. Total revenues came in around $120 million below expectations at $52.9 billion, largely due to a slip in iPhone sales to 50.76 million units for the quarter, down 1% year on year, and a 35% decline from the previous quarter. The Apple share price suffered from disbelief and investors froze, leaving their money in Apple, unsure of where else to put it, leaving the market capitalization at $771 billion, massively overvalued. The only way is down once the market wakes up. The company defended its results by claiming that consumers are waiting for the release of the tenth-anniversary edition of the iPhone, which is due out in September this year. Apple…

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