Apple, Ever the Conundrum, Buys Off Stockholders

In the most anticipated quarterly report in recent memory, Apple – which a few brief months ago was the largest company in the world before its record stock price collapsed – indicated Tuesday that its growth has tempered and its margins have been crimped. It made $9.5 billion, or $10.09 a share, down 18%, on revenues up 11% to $43.6 billion in the March quarter, against earnings of $11.6 billion, or $12.30 a share, on $39.2 billion in revenue a year ago. It was the company’s first earnings decline and first revenue slowdown in years although it beat Wall Street’s lowered revenue estimates of around $42.3 billion. It also forecast flat revenues of only $33.5 billion to $35.5 billion this quarter against Wall Street expectations of $38.2 billion, which could mean its first year-over-year decline in a very long time.

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