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Apple’s 1Q disappoints investors, stock stumbles

January 27, 2014 • Business


FILE – In this Wednesday, Nov. 20, 2013, file photo, the Apple logo is illuminated in the entrance to the Fifth Avenue Apple store, in New York. Apple Inc. reports quarterly financial results after the market closes Monday, Jan 27, 2014. (AP Photo/Mark Lennihan, File)

SAN FRANCISCO (AP) — Apple’s holiday season proved to be a letdown, even though the company sold a record number of iPhones and iPads during its latest quarter.

The results released Monday further crystalized the challenges facing Apple as the world’s most valuable company struggles to lift its stock back to where it stood at its peak of more than $700 in September 2012. That was before investors began to fret about fiercer competition in mobile devices and the lack of a breakthrough product since the iPad came out nearly four years ago.

Apple’s management amplified those concerns with a revenue forecast for the current quarter of Login to read more

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