Investing.com - Apple (NASDAQ:AAPL) reported a surprise fall in iPhone sales for its second quarter after the market close on Tuesday, with chief executive Tim Cook blaming “rumors around future products” for the revenue miss.
Apple sold 50.76 million iPhones in its fiscal second quarter ended April 1, down from 51.19 million a year earlier. Analysts on average had estimated iPhone sales of 52.27 million, according to financial data and analytics firm FactSet.
Expectations are building ahead of Apple's 10th-anniversary iPhone range this fall, with investors hoping that the launch would help bolster declining sales.
Many market experts believe the company is suffering from a lack of innovation ever since the death of legendary CEO Steve Jobs in 2011.
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