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Apple shares soar despite 17% drop in iPhone revenue

Apple reported today that it barely topped Wall Street estimates for iPhone and services revenue during its fiscal second quarter, which ran from January through March. The company took in $31.05 billion from sales of its smartphones during the quarter barely topping the $31.03 billion that Wall Street expected. Since the end of the fiscal fourth quarter, Apple has stopped revealing how many iPhone units were sold during the period. The revenue figure is a 17% decline from the same quarter last year

While iPhone sales have been struggling, Apple has been focusing ...

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