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Apple Sales Gain Slowest Since ’09 as Competition Climbs
Apple Inc. (AAPL) posted no profit growth and the slowest increase in sales in 14 quarters amid rising costs and accelerating competition with Samsung Electronics Co. (005930) Profit was little changed at $13.1 billion, or $13.81 a share, in the period that ended Dec. 29, Apple said today in a statement. Sales rose 18 percent to $54.5 billion. Analysts had predicted profit of $13.53 a share on revenue of $54.9 billion, the average of estimates compiled by Bloomberg. Shares fell as much as 6.6 percent in late trading. The results reinforce concern that Apple’s growth is being hurt by higher production costs, ... (full story)
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